VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.74 Million Investment in SiriusPoint Ltd. $SPNT

Key Points

• Virginia Retirement Systems ET Al invested approximately $2.74 million in SiriusPoint Ltd., acquiring 134,208 shares during the second quarter.
• SiriusPoint reported earnings per share (EPS) of $0.66 for the quarter, surpassing analysts' expectations of $0.56, with revenue reaching $948.2 million.
• Analysts have a consensus rating of "Buy" for SiriusPoint, with a price target averaging $25.00 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 134,208 shares of the company's stock, valued at approximately $2,737,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.12% of SiriusPoint at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of SiriusPoint during the 2nd quarter worth about $27,000. Quarry LP boosted its stake in shares of SiriusPoint by 1,737.6% during the 1st quarter. Quarry LP now owns 3,473 shares of the company's stock worth $60,000 after purchasing an additional 3,284 shares during the last quarter. US Bancorp DE acquired a new stake in shares of SiriusPoint during the 1st quarter worth about $65,000. GAMMA Investing LLC boosted its stake in shares of 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. Finally, Quantbot Technologies LP acquired a new stake in shares of SiriusPoint during the 1st quarter worth about $126,000. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Price Performance

SPNT opened at $18.03 on Wednesday. The company's 50 day simple moving average is $18.35 and its 200 day simple moving average is $18.52. 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 Ltd. has a 1 year low of $12.78 and a 1 year high of $21.03. The stock has a market capitalization of $2.11 billion, a PE ratio of 20.26 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

SPNT has been the topic of several analyst reports. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley assumed coverage on shares of SiriusPoint in a research report on Monday, July 21st. They issued a "buy" rating and a $33.00 target price on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SiriusPoint in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, SiriusPoint currently has a consensus rating of "Buy" and a consensus price target of $25.00.

SiriusPoint Profile

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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