Donald Smith & CO. Inc. Invests $147.94 Million in SiriusPoint Ltd. $SPNT

Donald Smith & CO. Inc. bought a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) during the 2nd quarter, HoldingsChannel reports. The firm bought 6,164,189 shares of the company’s stock, valued at approximately $147,941,000. SiriusPoint makes up about 2.6% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 18th largest position. Donald Smith & CO. Inc. owned about 0.05% of SiriusPoint as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vise Technologies Inc. acquired a new stake in SiriusPoint in the second quarter worth about $205,000. BlackRock Inc. acquired a new position in shares of SiriusPoint during the second quarter valued at about $271,853,000. Deutsche Bank AG acquired a new position in shares of SiriusPoint during the second quarter valued at about $2,782,000. Bank of New York Mellon Corp purchased a new position in shares of SiriusPoint in the 2nd quarter valued at approximately $16,774,000. Finally, State of Wyoming purchased a new position in shares of SiriusPoint in the 2nd quarter valued at approximately $1,016,000. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Trading Up 0.2%

Shares of NYSE:SPNT opened at $23.64 on Friday. The business has a 50-day moving average price of $23.98 and a 200-day moving average price of $22.62. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 5.77 and a beta of 0.61. SiriusPoint Ltd. has a 52-week low of $17.17 and a 52-week high of $26.48. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The company had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. Equities analysts predict that SiriusPoint Ltd. will post 2.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SPNT. Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, SiriusPoint has an average rating of “Hold” and a consensus target price of $31.00.

SiriusPoint Company Profile

SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.

On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.