The Manufacturers Life Insurance Company Purchases New Stake in SiriusPoint Ltd. $SPNT

The Manufacturers Life Insurance Company acquired a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 41,147 shares of the company’s stock, valued at approximately $988,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in SiriusPoint by 187.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after purchasing an additional 1,377 shares during the last quarter. Leonteq Securities AG bought a new position in shares of SiriusPoint during the fourth quarter valued at approximately $136,000. Inspire Investing LLC bought a new position in shares of SiriusPoint during the fourth quarter valued at approximately $185,000. Royal Bank of Canada raised its position in shares of SiriusPoint by 64.0% during the 4th quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock worth $192,000 after purchasing an additional 3,430 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of SiriusPoint during the 3rd quarter worth approximately $192,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Price Performance

Shares of NYSE SPNT opened at $24.52 on Friday. SiriusPoint Ltd. has a twelve month low of $17.17 and a twelve month high of $26.48. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $24.19 and a two-hundred day moving average of $22.90. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 5.98 and a beta of 0.61.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $798.95 million. As a group, analysts expect that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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