Teacher Retirement System of Texas Makes New Investment in SiriusPoint Ltd. (NYSE:SPNT)

Teacher Retirement System of Texas acquired a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,356 shares of the company's stock, valued at approximately $266,000.

Several other hedge funds also recently added to or reduced their stakes in SPNT. Assenagon Asset Management S.A. increased its position in shares of SiriusPoint by 67.5% during the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock worth $1,033,000 after purchasing an additional 24,074 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SiriusPoint by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after purchasing an additional 2,086 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of SiriusPoint during the first quarter worth about $6,869,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SiriusPoint by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,852 shares of the company's stock worth $3,259,000 after purchasing an additional 28,918 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of SiriusPoint by 37.7% during the fourth quarter. ProShare Advisors LLC now owns 28,300 shares of the company's stock worth $464,000 after purchasing an additional 7,750 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

SiriusPoint Stock Performance

NYSE:SPNT traded up $0.20 during midday trading on Wednesday, reaching $19.65. The stock had a trading volume of 549,759 shares, compared to its average volume of 608,928. SiriusPoint Ltd. has a 1-year low of $12.78 and a 1-year high of $21.03. The firm's fifty day simple moving average is $19.39 and its 200-day simple moving average is $16.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $2.29 billion, a P/E ratio of 20.46 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.23. The company had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a net margin of 6.30% and a return on equity of 7.78%.

Insider Transactions at SiriusPoint

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the transaction, the director directly owned 127,578 shares of the company's stock, valued at approximately $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SPNT has been the subject of a number of research reports. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley assumed coverage on SiriusPoint in a research report on Monday. They set a "buy" rating and a $33.00 price objective for the company. Jefferies Financial Group assumed coverage on SiriusPoint in a report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target for the company. Finally, Oppenheimer set a $25.00 price target on SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, SiriusPoint has a consensus 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.