SiriusPoint Ltd. $SPNT Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC lessened its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 397,350 shares of the company’s stock after selling 94,150 shares during the quarter. SiriusPoint makes up about 1.2% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 29th biggest position. Zweig DiMenna Associates LLC’s holdings in SiriusPoint were worth $8,559,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SPNT. Horizon Investments LLC acquired a new position in SiriusPoint in the fourth quarter valued at $1,296,000. CWA Asset Management Group LLC purchased a new position in SiriusPoint during the fourth quarter worth about $1,135,000. Vanguard Group Inc. lifted its position in SiriusPoint by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after buying an additional 368,908 shares during the period. Harbor Capital Advisors Inc. boosted its stake in SiriusPoint by 35.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 221,447 shares of the company’s stock worth $4,847,000 after buying an additional 57,798 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in SiriusPoint in the 1st quarter worth about $1,062,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT stock opened at $24.75 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.91 billion, a PE ratio of 6.16 and a beta of 0.60. The company’s fifty day simple moving average is $23.18 and its 200-day simple moving average is $21.96. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $25.34.

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

Wall Street Analyst Weigh In

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