Private Management Group Inc. Has $72.20 Million Stake in SiriusPoint Ltd. $SPNT

Private Management Group Inc. decreased its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 11.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,008,267 shares of the company’s stock after selling 404,278 shares during the quarter. SiriusPoint accounts for 1.9% of Private Management Group Inc.’s investment portfolio, making the stock its 3rd biggest holding. Private Management Group Inc.’s holdings in SiriusPoint were worth $72,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in SiriusPoint by 187.1% during the 2nd 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. Caitlin John LLC bought a new stake in shares of SiriusPoint in the 2nd quarter worth $52,000. Leonteq Securities AG acquired a new stake in shares of SiriusPoint in the fourth quarter valued at $136,000. Inspire Investing LLC acquired a new stake in shares of SiriusPoint in the fourth quarter valued at $185,000. Finally, Royal Bank of Canada boosted its stake in SiriusPoint by 64.0% during the fourth quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock valued at $192,000 after buying an additional 3,430 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors and hedge funds.

SiriusPoint Price Performance

SPNT opened at $24.22 on Friday. SiriusPoint Ltd. has a 12-month low of $17.17 and a 12-month high of $26.48. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.81 billion, a P/E ratio of 5.91 and a beta of 0.61. The stock has a fifty day moving average of $24.08 and a 200-day moving average of $22.75.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, SiriusPoint has an average rating of “Hold” and a consensus price target 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.