Hsbc Holdings PLC Lowers Stake in SiriusPoint Ltd. $SPNT

Hsbc Holdings PLC cut its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 55.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 42,968 shares of the company’s stock after selling 53,211 shares during the period. Hsbc Holdings PLC’s holdings in SiriusPoint were worth $920,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Optima Capital LLC acquired a new position in shares of SiriusPoint in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC increased its position in SiriusPoint by 187.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after purchasing an additional 1,377 shares in the last quarter. Leonteq Securities AG acquired a new stake in SiriusPoint during the 4th quarter worth approximately $136,000. Torren Management LLC purchased a new position in SiriusPoint in the fourth quarter valued at approximately $143,000. Finally, Inspire Investing LLC purchased a new position in SiriusPoint in the fourth quarter valued at approximately $185,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

SiriusPoint Stock Down 1.8%

Shares of SiriusPoint stock opened at $25.83 on Thursday. SiriusPoint Ltd. has a 1-year low of $17.17 and a 1-year high of $26.48. The company has a market capitalization of $3.04 billion, a PE ratio of 6.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day moving average of $23.59 and a 200-day moving average of $22.24.

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 business had revenue of $744.10 million for the quarter, compared to analysts’ expectations of $798.95 million. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. As a group, equities analysts forecast that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

SiriusPoint 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.