The Manufacturers Life Insurance Company Takes $988,000 Position in SiriusPoint Ltd. $SPNT

Key Points

• The Manufacturers Life Insurance Company purchased 41,147 SiriusPoint shares worth approximately $988,000 during the second quarter. Institutional investors and hedge funds collectively own 52.79% of the company.
• Analyst sentiment is mixed: two analysts rate SiriusPoint a Buy and three rate it a Hold, resulting in a consensus Hold rating and a $31.00 target price.
• SiriusPoint shares opened at $24.52, while the company’s latest quarterly results showed adjusted EPS of $0.67, exceeding estimates of $0.65, though revenue of $744.1 million fell short of expectations.

The Manufacturers Life Insurance Company bought a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,147 shares of the company's stock, valued at approximately $988,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of SiriusPoint in the 2nd quarter worth about $271,853,000. Donald Smith & CO. Inc. acquired a new position in SiriusPoint during the second quarter valued at approximately $147,941,000. Goldman Sachs Group Inc. grew its stake in SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock worth $36,079,000 after buying an additional 1,440,836 shares during the period. Capital Research Global Investors boosted its position in SiriusPoint by 11.2% during the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company's stock worth $163,036,000 after purchasing an additional 747,968 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of SiriusPoint in the second quarter worth about $16,774,000. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPNT has been the topic of several recent research reports. Weiss Ratings reissued a "buy (b+)" rating on shares of SiriusPoint in a research report on Friday, August 7th. Wall Street Zen downgraded shares of SiriusPoint from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, SiriusPoint presently has an average rating of "Hold" and a consensus target price of $31.00.

SiriusPoint Stock Down 1.3%

Shares of SiriusPoint stock opened at $24.52 on Friday. The business has a 50-day moving average of $24.19 and a 200-day moving average of $22.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $2.85 billion, a PE ratio of 5.98 and a beta of 0.61. SiriusPoint Ltd. has a 1-year low of $17.17 and a 1-year high of $26.48.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $744.10 million for the quarter, compared to analysts' expectations of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. As a group, equities analysts forecast that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

About SiriusPoint

SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.

On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.

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