Evolve Private Wealth LLC Takes $738,000 Position in SiriusPoint Ltd. $SPNT

Evolve Private Wealth LLC bought a new stake in SiriusPoint Ltd. (NYSE:SPNT) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 30,745 shares of the company’s stock, valued at approximately $738,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Horizon Investments LLC purchased a new position in SiriusPoint during the 4th quarter worth approximately $1,296,000. Arrowstreet Capital Limited Partnership lifted its stake in SiriusPoint by 1,107.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 334,222 shares of the company’s stock valued at $7,199,000 after buying an additional 306,550 shares during the last quarter. State of Wyoming purchased a new stake in SiriusPoint in the second quarter valued at approximately $1,016,000. Vanguard Group Inc. boosted its holdings in shares of SiriusPoint by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock valued at $265,452,000 after acquiring an additional 368,908 shares during the period. Finally, Donald Smith & CO. Inc. acquired a new stake in shares of SiriusPoint in the second quarter valued at approximately $147,941,000. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SiriusPoint Stock Up 1.7%

SiriusPoint stock opened at $24.03 on Tuesday. The stock has a 50 day moving average of $24.00 and a two-hundred day moving average of $22.66. SiriusPoint Ltd. has a twelve month low of $17.17 and a twelve month high of $26.48. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 5.86 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30.

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

SiriusPoint 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.