SiriusPoint Ltd. $SPNT Stake Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in SiriusPoint Ltd. (NYSE:SPNT) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,497 shares of the company’s stock after selling 5,241 shares during the quarter. MetLife Investment Management LLC’s holdings in SiriusPoint were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPNT. Victory Capital Management Inc. increased its stake in SiriusPoint by 4,246.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock worth $47,397,000 after purchasing an additional 2,678,214 shares in the last quarter. American Century Companies Inc. boosted its position in SiriusPoint by 42.6% during the 1st quarter. American Century Companies Inc. now owns 3,789,579 shares of the company’s stock worth $65,522,000 after acquiring an additional 1,132,787 shares during the period. Zweig DiMenna Associates LLC purchased a new position in SiriusPoint during the 1st quarter valued at about $7,582,000. Atika Capital Management LLC purchased a new position in SiriusPoint during the 1st quarter valued at about $7,262,000. Finally, Harbor Capital Advisors Inc. purchased a new position in SiriusPoint during the 1st quarter valued at about $6,869,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Down 0.5%

SPNT opened at $18.75 on Friday. The business 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. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $2.19 billion, a P/E ratio of 21.07 and a beta of 0.85.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share 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 company had revenue of $948.20 million during the quarter, compared to analysts’ expectations of $720.10 million.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPNT. B. Riley began coverage on SiriusPoint in a research note on Monday, July 21st. They set a “buy” rating and a $33.00 target price on the stock. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. Finally, Oppenheimer set a $25.00 target price on SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Two investment 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. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.