Empowered Funds LLC Sells 184,539 Shares of SiriusPoint Ltd. $SPNT

Empowered Funds LLC cut its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 25.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 549,867 shares of the company’s stock after selling 184,539 shares during the quarter. Empowered Funds LLC’s holdings in SiriusPoint were worth $11,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of SiriusPoint during the 2nd quarter worth approximately $27,000. Quarry LP lifted its holdings in SiriusPoint by 1,737.6% during the first quarter. Quarry LP now owns 3,473 shares of the company’s stock worth $60,000 after acquiring an additional 3,284 shares during the period. US Bancorp DE purchased a new position in SiriusPoint in the first quarter worth $65,000. GAMMA Investing LLC grew its stake in SiriusPoint by 14.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after purchasing an additional 639 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of SiriusPoint during the 1st quarter valued at $126,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPNT. Weiss Ratings reissued a “buy (b)” rating on shares of SiriusPoint in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, SiriusPoint presently has a consensus rating of “Buy” and a consensus target price of $25.00.

SiriusPoint Trading Up 0.9%

Shares of SPNT opened at $19.91 on Wednesday. SiriusPoint Ltd. has a fifty-two week low of $13.26 and a fifty-two week high of $21.03. The business has a 50-day moving average of $18.58 and a 200 day moving average of $18.95. The firm has a market cap of $2.33 billion, a P/E ratio of 12.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.57 and a current ratio of 0.57.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. The firm had revenue of $874.40 million during the quarter, compared to analyst estimates of $738.35 million. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%.

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.