Victory Capital Management Inc. Boosts Position in SiriusPoint Ltd. $SPNT

Victory Capital Management Inc. raised its position in SiriusPoint Ltd. (NYSE:SPNT) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,312,811 shares of the company’s stock after purchasing an additional 736,823 shares during the period. Victory Capital Management Inc. owned about 3.69% of SiriusPoint worth $78,019,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of SiriusPoint in the 2nd quarter valued at about $270,000. Exchange Traded Concepts LLC bought a new position in shares of SiriusPoint in the third quarter worth $1,934,000. Campbell & CO Investment Adviser LLC increased its holdings in shares of SiriusPoint by 124.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 46,139 shares of the company’s stock valued at $941,000 after purchasing an additional 25,567 shares during the period. Federated Hermes Inc. raised its position in shares of SiriusPoint by 45.0% during the 2nd quarter. Federated Hermes Inc. now owns 600,985 shares of the company’s stock worth $12,254,000 after buying an additional 186,493 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of SiriusPoint in the 3rd quarter worth $2,080,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SPNT shares. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Raymond James Financial initiated coverage on shares of SiriusPoint in a research report on Friday, January 16th. They issued a “market perform” rating on the stock. Wall Street Zen lowered shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings raised SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group raised shares of SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.00.

SiriusPoint Price Performance

SPNT stock opened at $21.13 on Friday. The firm has a market cap of $2.47 billion, a P/E ratio of 5.73 and a beta of 0.66. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. SiriusPoint Ltd. has a 12 month low of $14.05 and a 12 month high of $22.89. The company’s 50-day moving average price is $20.68 and its two-hundred day moving average price is $19.86.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.16. The company had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

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.