Edgestream Partners L.P. Cuts Stock Holdings in SiriusPoint Ltd. $SPNT

Edgestream Partners L.P. lessened its stake in SiriusPoint Ltd. (NYSE:SPNT) by 80.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,940 shares of the company’s stock after selling 101,419 shares during the quarter. Edgestream Partners L.P.’s holdings in SiriusPoint were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPNT. EverSource Wealth Advisors LLC increased its holdings in shares of SiriusPoint by 51.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company’s stock worth $80,000 after buying an additional 1,256 shares during the last quarter. Royal Bank of Canada boosted its holdings in SiriusPoint by 91.8% in the first quarter. Royal Bank of Canada now owns 16,858 shares of the company’s stock valued at $363,000 after acquiring an additional 8,068 shares during the last quarter. Empowered Funds LLC boosted its holdings in SiriusPoint by 3.0% in the first quarter. Empowered Funds LLC now owns 549,993 shares of the company’s stock valued at $11,847,000 after acquiring an additional 15,976 shares during the last quarter. Quantinno Capital Management LP grew its position in SiriusPoint by 50.7% during the first quarter. Quantinno Capital Management LP now owns 47,025 shares of the company’s stock valued at $1,013,000 after acquiring an additional 15,817 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its position in SiriusPoint by 1.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,415,529 shares of the company’s stock valued at $30,491,000 after acquiring an additional 25,438 shares during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SPNT. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded 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 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, SiriusPoint has an average rating of “Hold” and a consensus target price of $31.00.

SiriusPoint Price Performance

SPNT stock opened at $23.97 on Wednesday. The firm has a market cap of $2.78 billion, a P/E ratio of 5.85 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 1 year low of $17.17 and a 1 year high of $26.48. The stock has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $22.34.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. On average, equities analysts predict that SiriusPoint Ltd. will post 2.59 earnings per share for the current fiscal year.

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.