SiriusPoint Ltd. $SPNT Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in SiriusPoint Ltd. by 3.2% during Q1, acquiring an additional 341,096 shares, bringing its total ownership to approximately 11,035,310 shares, valued at $190.8 million.
• SiriusPoint's stock price opened at $18.6230, and the company reported a significant earnings per share (EPS) of $0.66 for the last quarter, surpassing analysts' expectations of $0.56.
• Brokerages have varying opinions on SiriusPoint, with ratings ranging from "strong-buy" to "buy," and a consensus target price of $25.00.

Wellington Management Group LLP lifted its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,035,310 shares of the company's stock after purchasing an additional 341,096 shares during the quarter. Wellington Management Group LLP owned 9.47% of SiriusPoint worth $190,801,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in SiriusPoint during the 1st quarter valued at $128,000. American Century Companies Inc. grew its holdings in shares of SiriusPoint by 42.6% during the first quarter. American Century Companies Inc. now owns 3,789,579 shares of the company's stock valued at $65,522,000 after buying an additional 1,132,787 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in shares of SiriusPoint during the first quarter worth about $195,000. Informed Momentum Co LLC bought a new stake in shares of SiriusPoint during the first quarter worth about $3,792,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of SiriusPoint by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 292,557 shares of the company's stock worth $5,058,000 after acquiring an additional 62,702 shares during the last quarter. 52.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

SiriusPoint Price Performance

SPNT stock traded up $0.1750 during midday trading 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 company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.98 and a beta of 0.86. The company has a 50 day moving average of $19.13 and a two-hundred day moving average of $17.61. SiriusPoint Ltd. has a 12 month low of $12.78 and a 12 month high of $21.03.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings data 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 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 analysts' expectations of $720.10 million.

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.