Edgestream Partners L.P. Sells 89,670 Shares of SiriusPoint Ltd. $SPNT

Edgestream Partners L.P. reduced its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 57.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 65,630 shares of the company’s stock after selling 89,670 shares during the quarter. Edgestream Partners L.P.’s holdings in SiriusPoint were worth $1,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Natixis Advisors LLC increased its holdings in SiriusPoint by 10.9% in the first quarter. Natixis Advisors LLC now owns 14,662 shares of the company’s stock valued at $254,000 after purchasing an additional 1,444 shares during the period. US Bancorp DE bought a new stake in shares of SiriusPoint in the 1st quarter valued at about $65,000. Swiss National Bank increased its stake in shares of SiriusPoint by 1.7% in the first quarter. Swiss National Bank now owns 203,800 shares of the company’s stock valued at $3,524,000 after buying an additional 3,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of SiriusPoint during the first quarter worth about $545,000. Finally, Nuveen LLC acquired a new position in shares of SiriusPoint in the first quarter worth approximately $3,883,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPNT. Weiss Ratings reiterated a “buy (b+)” rating on shares of SiriusPoint in a report on Monday. Zacks Research raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $25.00.

SiriusPoint Stock Down 1.5%

SiriusPoint stock opened at $21.50 on Friday. The company has a market capitalization of $2.51 billion, a PE ratio of 13.52 and a beta of 0.68. SiriusPoint Ltd. has a 12-month low of $13.26 and a 12-month high of $21.84. The firm’s fifty day moving average is $19.27 and its 200 day moving average is $19.09. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.34.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.21. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%. The firm had revenue of $755.90 million during the quarter, compared to the consensus estimate of $738.35 million.

SiriusPoint Company Profile

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.