Trexquant Investment LP Makes New $928,000 Investment in SiriusPoint Ltd. $SPNT

Key Points

• Trexquant Investment LP has made a new investment of approximately $928,000 in SiriusPoint Ltd., acquiring 53,693 shares in the process, as disclosed in their 13F filing.
• SiriusPoint has recently reported quarterly earnings surpassing estimates, with earnings per share at $0.66 against a consensus estimate of $0.56, while revenue reached $948.20 million.
• Institutional ownership of SiriusPoint is substantial, with 52.79% of the company's stock held by institutional investors, indicating strong professional interest in the company.

Trexquant Investment LP acquired a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 53,693 shares of the company's stock, valued at approximately $928,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Natixis Advisors LLC lifted its holdings in SiriusPoint by 10.9% in the first quarter. Natixis Advisors LLC now owns 14,662 shares of the company's stock worth $254,000 after buying an additional 1,444 shares during the period. GAMMA Investing LLC lifted its holdings in SiriusPoint by 91.0% in the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after buying an additional 2,086 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in SiriusPoint by 10.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 34,127 shares of the company's stock worth $590,000 after buying an additional 3,100 shares during the period. Swiss National Bank lifted its holdings in SiriusPoint by 1.7% in the first quarter. Swiss National Bank now owns 203,800 shares of the company's stock worth $3,524,000 after buying an additional 3,400 shares during the period. Finally, US Bancorp DE purchased a new position in shares of SiriusPoint during the first quarter valued at approximately $65,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen lowered shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, B. Riley began coverage on shares of SiriusPoint in a research report on Monday, July 21st. They set a "buy" rating and a $33.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $25.00.

SiriusPoint Price Performance

SPNT stock traded down $0.14 during mid-day trading on Friday, hitting $19.02. The company had a trading volume of 868,651 shares, compared to its average volume of 989,280. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 21.37 and a beta of 0.85. SiriusPoint Ltd. has a 12-month low of $12.78 and a 12-month high of $21.03. 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 has a 50-day moving average price of $18.83 and a 200 day moving average price of $18.05.

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

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.