Jacobs Levy Equity Management Inc. Purchases Shares of 73,610 SiriusPoint Ltd. $SPNT

Jacobs Levy Equity Management Inc. purchased a new stake in SiriusPoint Ltd. (NYSE:SPNT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,610 shares of the company’s stock, valued at approximately $1,273,000. Jacobs Levy Equity Management Inc. owned 0.06% of SiriusPoint at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in shares of SiriusPoint in the 1st quarter valued at about $7,132,000. Royal Bank of Canada raised its stake in shares of SiriusPoint by 20.1% in the 1st quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock valued at $304,000 after purchasing an additional 2,949 shares during the period. Quarry LP raised its stake in shares of SiriusPoint by 1,737.6% in the 1st quarter. Quarry LP now owns 3,473 shares of the company’s stock valued at $60,000 after purchasing an additional 3,284 shares during the period. State of Wyoming raised its stake in shares of SiriusPoint by 76.9% in the 1st quarter. State of Wyoming now owns 29,173 shares of the company’s stock valued at $504,000 after purchasing an additional 12,685 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of SiriusPoint in the 1st quarter valued at about $928,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPNT shares. B. Riley started coverage on SiriusPoint in a research note on Monday, July 21st. They issued a “buy” rating and a $33.00 price target on the stock. Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. Finally, Oppenheimer set a $25.00 price target on SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.00.

SiriusPoint Price Performance

Shares of NYSE SPNT opened at $19.14 on Friday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 21.51 and a beta of 0.85. The business has a 50-day moving average of $18.85 and a 200-day moving average of $18.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint Ltd. has a fifty-two week low of $12.78 and a fifty-two week high of $21.03.

SiriusPoint (NYSE:SPNT) last announced 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. 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%.

About SiriusPoint

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.