Leuthold Group LLC Acquires 159,787 Shares of SiriusPoint Ltd. $SPNT

Leuthold Group LLC acquired a new position in SiriusPoint Ltd. (NYSE:SPNT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 159,787 shares of the company’s stock, valued at approximately $3,875,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Susquehanna International Group LLP raised its position in shares of SiriusPoint by 2.0% in the second quarter. Susquehanna International Group LLP now owns 46,476 shares of the company’s stock valued at $1,115,000 after purchasing an additional 895 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in SiriusPoint by 51.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company’s stock worth $80,000 after buying an additional 1,256 shares during the period. Illinois Municipal Retirement Fund grew its stake in SiriusPoint by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 55,103 shares of the company’s stock valued at $1,187,000 after buying an additional 1,313 shares in the last quarter. Farther Finance Advisors LLC grew its stake in SiriusPoint by 73.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,023 shares of the company’s stock valued at $98,000 after buying an additional 1,697 shares in the last quarter. Finally, Ethic Inc. grew its stake in SiriusPoint by 18.7% in the 3rd quarter. Ethic Inc. now owns 13,467 shares of the company’s stock valued at $327,000 after buying an additional 2,119 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors.

SiriusPoint Price Performance

SPNT stock opened at $26.38 on Tuesday. The firm has a 50 day simple moving average of $25.09 and a two-hundred day simple moving average of $23.18. The stock has a market cap of $3.06 billion, a PE ratio of 6.42 and a beta of 0.60. SiriusPoint Ltd. has a one year low of $19.15 and a one year high of $27.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The firm had revenue of $867.60 million for the quarter, compared to analysts’ expectations of $740.99 million. On average, analysts predict that SiriusPoint Ltd. will post 2.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and set a $31.00 target price on shares of SiriusPoint in a research report on Monday. Weiss Ratings upgraded SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a research note on Tuesday, October 27th. Finally, Royal Bank Of Canada initiated coverage on SiriusPoint in a report on Tuesday, September 22nd. They set an “outperform” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

About SiriusPoint

SiriusPoint Ltd. is a Bermuda-based global insurer and reinsurer that provides specialty insurance and reinsurance products to businesses and other organizations. Its offerings span areas such as property and casualty, accident and health, and other specialty risks.

The company works with brokers, agents, managing general agents and other distribution partners to underwrite risks across a range of markets. Its business serves clients in the United States and internationally, including in Europe and other regions.

SiriusPoint was formed in 2021 when Third Point Reinsurance Ltd.