Assenagon Asset Management S.A. Sells 506,227 Shares of SiriusPoint Ltd. $SPNT

Assenagon Asset Management S.A. lessened its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 91.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,840 shares of the company’s stock after selling 506,227 shares during the period. Assenagon Asset Management S.A.’s holdings in SiriusPoint were worth $1,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in SiriusPoint by 56.1% in the 1st quarter. SG Americas Securities LLC now owns 37,333 shares of the company’s stock worth $804,000 after acquiring an additional 13,424 shares during the last quarter. Evolve Private Wealth LLC boosted its position in shares of SiriusPoint by 9.9% during the 1st quarter. Evolve Private Wealth LLC now owns 28,806 shares of the company’s stock valued at $620,000 after acquiring an additional 2,595 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of SiriusPoint during the 4th quarter valued at approximately $232,000. State of Tennessee Department of Treasury grew its holdings in shares of SiriusPoint by 144.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 51,305 shares of the company’s stock valued at $1,047,000 after purchasing an additional 30,348 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of SiriusPoint by 4.5% in the fourth quarter. Empowered Funds LLC now owns 534,017 shares of the company’s stock valued at $11,690,000 after purchasing an additional 22,843 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Wall Street Analyst Weigh In

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

SiriusPoint Trading Up 3.5%

SPNT stock opened at $24.59 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. SiriusPoint Ltd. has a twelve month low of $17.17 and a twelve month high of $24.63. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.12 and a beta of 0.60. The firm’s fifty day simple moving average is $22.99 and its two-hundred day simple moving average is $21.83.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 EPS for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The company had revenue of $774.60 million for the quarter. As a group, analysts anticipate that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

About SiriusPoint

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.