First Trust Advisors LP Has $9.92 Million Stake in SiriusPoint Ltd. $SPNT

First Trust Advisors LP increased its stake in SiriusPoint Ltd. (NYSE:SPNT) by 35.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 460,590 shares of the company’s stock after purchasing an additional 120,189 shares during the quarter. First Trust Advisors LP’s holdings in SiriusPoint were worth $9,921,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SPNT. Optima Capital LLC bought a new position in SiriusPoint during the fourth quarter worth $41,000. EverSource Wealth Advisors LLC increased its stake in SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after purchasing an additional 1,377 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of SiriusPoint during the fourth quarter valued at about $136,000. Torren Management LLC acquired a new position in shares of SiriusPoint during the fourth quarter valued at about $143,000. Finally, Inspire Investing LLC acquired a new position in shares of SiriusPoint during the fourth quarter valued at about $185,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SPNT shares. B. Riley Financial assumed coverage on SiriusPoint in a research note on Friday, April 17th. They issued a “buy” rating and a $31.00 target price for the company. Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.00.

SiriusPoint Stock Up 0.0%

SiriusPoint stock opened at $23.66 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.77 and a beta of 0.60. The firm’s fifty day moving average price is $23.60 and its two-hundred day moving average price is $22.27. SiriusPoint Ltd. has a 1-year low of $17.17 and a 1-year high of $26.48. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Wednesday, July 29th. The company reported $0.67 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 16.28%. The company had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. On average, equities research analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal 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.