Trexquant Investment LP Invests $928,000 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 purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,693 shares of the company's stock, valued at approximately $928,000.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of SiriusPoint by 3.5% in the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock valued at $9,163,000 after purchasing an additional 18,114 shares in the last quarter. Victory Capital Management Inc. lifted its stake in SiriusPoint by 4,246.7% during the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock worth $47,397,000 after purchasing an additional 2,678,214 shares during the period. GAMMA Investing LLC lifted its stake in 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 during the period. Informed Momentum Co LLC bought a new position in SiriusPoint during the first quarter worth about $3,792,000. Finally, Assenagon Asset Management S.A. lifted its stake in 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 during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SiriusPoint Price Performance

Shares of SiriusPoint stock traded up $0.35 during midday trading on Thursday, reaching $18.99. The company had a trading volume of 421,262 shares, compared to its average volume of 721,812. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 21.34 and a beta of 0.85. The stock has a fifty day simple moving average of $18.86 and a 200 day simple moving average of $17.99. SiriusPoint Ltd. has a 1-year low of $12.78 and a 1-year high of $21.03.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 6.57% and a net margin of 4.38%.

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.