Vanguard Group Inc. Decreases Stake in SiriusPoint Ltd. $SPNT

Key Points

• Vanguard Group Inc. reduced its holdings in SiriusPoint Ltd. by 0.6%, owning approximately 10.97 million shares valued at $189.64 million.
• Other institutional investors, like Victory Capital Management Inc., significantly increased their positions in SiriusPoint, with Victory's holdings rising by over 4,000% in Q1.
• SiriusPoint has received mixed analyst ratings, with a current consensus rating of "Buy" and a target price around $25.00 per share.

Vanguard Group Inc. reduced its position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,968,053 shares of the company's stock after selling 67,819 shares during the period. Vanguard Group Inc. owned approximately 6.76% of SiriusPoint worth $189,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of SiriusPoint by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock worth $9,163,000 after buying an additional 18,114 shares during the last quarter. Victory Capital Management Inc. lifted its position 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 valued at $47,397,000 after purchasing an additional 2,678,214 shares in the last quarter. GAMMA Investing LLC lifted its position in SiriusPoint by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after purchasing an additional 2,086 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in SiriusPoint by 67.5% during the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock valued at $1,033,000 after purchasing an additional 24,074 shares in the last quarter. Finally, Northern Trust Corp lifted its position in SiriusPoint by 9.1% during the fourth quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock valued at $17,357,000 after purchasing an additional 88,296 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

SiriusPoint Price Performance

Shares of SiriusPoint stock traded up $0.1750 during trading hours on Friday, hitting $18.6750. The company's stock had a trading volume of 1,248,482 shares, compared to its average volume of 840,990. The business has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $17.58. SiriusPoint Ltd. has a 12-month low of $12.78 and a 12-month high of $21.03. The company has a market cap of $2.18 billion, a PE ratio of 20.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60.

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, beating the consensus estimate of $0.56 by $0.10. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.The business had revenue of $948.20 million for the quarter, compared to the consensus estimate of $720.10 million.

Analyst Upgrades and Downgrades

SPNT has been the topic of several analyst reports. B. Riley initiated coverage on SiriusPoint in a research report on Monday, July 21st. They set a "buy" rating and a $33.00 target price on the stock. Oppenheimer set a $25.00 target price on SiriusPoint and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen downgraded SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price 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.