Victory Capital Management Inc. raised its stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 4,246.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,741,280 shares of the company's stock after acquiring an additional 2,678,214 shares during the quarter. Victory Capital Management Inc. owned approximately 1.69% of SiriusPoint worth $47,397,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of SiriusPoint by 3.5% during 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. GAMMA Investing LLC raised its holdings in SiriusPoint by 91.0% during the 1st 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 last quarter. Assenagon Asset Management S.A. raised its holdings in SiriusPoint by 67.5% during the 1st 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 last quarter. Northern Trust Corp raised its holdings in SiriusPoint by 9.1% during the 4th quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock worth $17,357,000 after purchasing an additional 88,296 shares during the last quarter. Finally, Millennium Management LLC bought a new position in SiriusPoint during the 4th quarter worth approximately $1,967,000. Institutional investors own 52.79% of the company's stock.
SiriusPoint Stock Up 1.0%
Shares of NYSE SPNT traded up $0.20 during midday trading on Wednesday, hitting $19.65. 549,759 shares of the stock traded hands, compared to its average volume of 608,928. The company has a market cap of $2.29 billion, a PE ratio of 20.46 and a beta of 0.86. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The business has a 50 day moving average price of $19.39 and a two-hundred day moving average price of $16.96. 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 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. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%. The business had revenue of $727.30 million during the quarter, compared to the consensus estimate of $688.00 million.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on SPNT shares. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. B. Riley began coverage on SiriusPoint in a research note on Monday. They issued a "buy" rating and a $33.00 price target on the stock. Jefferies Financial Group began coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target on the stock. Finally, Wall Street Zen lowered SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $25.00.
View Our Latest Research Report on SPNT
Insider Activity at SiriusPoint
In other news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the sale, the director directly owned 127,578 shares in the company, valued at $2,494,149.90. The trade was a 19.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.70% of the stock is owned by insiders.
SiriusPoint Profile
(
Free Report)
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.
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