11,327,211 Shares in SiriusPoint Ltd. $SPNT Bought by BlackRock Inc.

BlackRock Inc. bought a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,327,211 shares of the company’s stock, valued at approximately $271,853,000. BlackRock Inc. owned approximately 0.10% of SiriusPoint as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of SiriusPoint by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock valued at $265,452,000 after acquiring an additional 368,908 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in SiriusPoint by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after purchasing an additional 1,026,284 shares in the last quarter. Capital Research Global Investors grew its stake in SiriusPoint by 11.2% in the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after buying an additional 747,968 shares in the last quarter. State Street Corp grew its stake in SiriusPoint by 12.1% in the 4th quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after buying an additional 468,060 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of SiriusPoint by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,447,810 shares of the company’s stock worth $53,592,000 after buying an additional 13,305 shares during the last quarter. 52.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPNT. Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a research report on Friday, August 7th. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

SiriusPoint Trading Down 0.2%

Shares of SPNT opened at $23.91 on Thursday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 5.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. SiriusPoint Ltd. has a fifty-two week low of $17.17 and a fifty-two week high of $26.48. The firm has a 50 day moving average price of $24.03 and a 200-day moving average price of $22.71.

SiriusPoint (NYSE:SPNT) last released its earnings results on Thursday, July 30th. The company reported $0.67 EPS 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 analyst estimates of $798.95 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. As a group, equities research analysts forecast that SiriusPoint Ltd. will post 2.57 earnings per share for the current 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.