SiriusPoint Ltd. $SPNT Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC grew its stake in SiriusPoint Ltd. (NYSE:SPNT) by 24.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,096 shares of the company’s stock after purchasing an additional 2,810 shares during the period. Neuberger Berman Group LLC’s holdings in SiriusPoint were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in SiriusPoint in the 2nd quarter worth about $270,000. Informed Momentum Co LLC acquired a new stake in SiriusPoint in the first quarter valued at approximately $3,792,000. Harbor Capital Advisors Inc. increased its position in shares of SiriusPoint by 11.3% in the second quarter. Harbor Capital Advisors Inc. now owns 441,968 shares of the company’s stock valued at $9,012,000 after buying an additional 44,705 shares in the last quarter. Atika Capital Management LLC acquired a new position in shares of SiriusPoint during the 1st quarter worth approximately $7,262,000. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of SiriusPoint by 124.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 46,139 shares of the company’s stock valued at $941,000 after buying an additional 25,567 shares in the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPNT shares. Weiss Ratings reissued a “buy (b)” rating on shares of SiriusPoint in a research note on Wednesday, October 8th. Wall Street Zen raised shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $25.00.

SiriusPoint Stock Down 0.6%

Shares of SPNT opened at $20.80 on Friday. The stock has a 50 day moving average price of $18.91 and a 200 day moving average price of $19.02. SiriusPoint Ltd. has a one year low of $13.26 and a one year high of $21.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 13.08 and a beta of 0.81.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $755.90 million for the quarter, compared to analysts’ expectations of $738.35 million.

SiriusPoint 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.