SiriusPoint Ltd. $SPNT Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,041 shares of the company’s stock after selling 957 shares during the quarter. Corebridge Financial Inc.’s holdings in SiriusPoint were worth $848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC raised its stake in shares of SiriusPoint by 10.9% during the 1st quarter. Natixis Advisors LLC now owns 14,662 shares of the company’s stock worth $254,000 after buying an additional 1,444 shares during the last quarter. GAMMA Investing LLC raised 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 buying an additional 2,086 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of SiriusPoint by 10.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 34,127 shares of the company’s stock worth $590,000 after buying an additional 3,100 shares during the last quarter. Swiss National Bank raised its stake in shares of SiriusPoint by 1.7% during the 1st quarter. Swiss National Bank now owns 203,800 shares of the company’s stock worth $3,524,000 after buying an additional 3,400 shares during the last quarter. Finally, US Bancorp DE acquired a new position in shares of SiriusPoint during the 1st quarter worth $65,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Trading Down 0.5%

Shares of SPNT stock opened at $18.75 on Friday. 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 $2.19 billion, a price-to-earnings ratio of 21.07 and a beta of 0.85. The firm has a 50-day moving average price of $18.93 and a 200 day moving average price of $17.89. SiriusPoint Ltd. has a twelve month low of $12.78 and a twelve month high of $21.03.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.56 by $0.10. The company had revenue of $948.20 million during the quarter, compared to analysts’ expectations of $720.10 million. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SPNT shares. Wall Street Zen downgraded shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Finally, B. Riley started 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. Two investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.00.

SiriusPoint Company 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.