Strs Ohio Takes Position in SiriusPoint Ltd. $SPNT

Key Points

• Strs Ohio acquired a new position in SiriusPoint Ltd., purchasing 46,500 shares valued at approximately $804,000 in the first quarter of 2023.
• Analysts have a positive outlook on SiriusPoint, with one firm setting a price target of $33.00 and the average rating being "Buy" with a target of $25.00.
• SiriusPoint reported a Q2 EPS of $0.66, exceeding estimates, with revenues of $948.20 million for the quarter.

Strs Ohio bought a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 46,500 shares of the company's stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in shares of SiriusPoint by 281.2% in the first quarter. Jane Street Group LLC now owns 236,222 shares of the company's stock worth $4,084,000 after buying an additional 174,246 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in SiriusPoint by 15.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,874 shares of the company's stock valued at $3,957,000 after acquiring an additional 30,022 shares during the last quarter. Optimize Financial Inc bought a new position in SiriusPoint during the first quarter valued at approximately $436,000. Empowered Funds LLC grew its holdings in shares of SiriusPoint by 2.2% in the first quarter. Empowered Funds LLC now owns 734,406 shares of the company's stock worth $12,698,000 after purchasing an additional 15,566 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock worth $36,079,000 after purchasing an additional 1,440,836 shares during the last quarter. Institutional investors own 52.79% of the company's stock.

SiriusPoint Stock Performance

SPNT traded up $0.06 during midday trading on Tuesday, hitting $17.60. 19,784 shares of the company traded hands, compared to its average volume of 743,998. SiriusPoint Ltd. has a 52 week low of $12.78 and a 52 week high of $21.03. The firm has a market capitalization of $2.05 billion, a PE ratio of 19.77 and a beta of 0.85. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. The company's 50-day moving average is $18.72 and its 200 day moving average is $18.23.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.56 by $0.10. The firm had revenue of $948.20 million during the quarter, compared to analyst estimates of $720.10 million. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPNT shares. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, B. Riley started coverage on shares of SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $25.00.

About SiriusPoint

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.