Geode Capital Management LLC Buys 86,802 Shares of SiriusPoint Ltd. $SPNT

Geode Capital Management LLC lifted its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,298,675 shares of the company’s stock after acquiring an additional 86,802 shares during the quarter. Geode Capital Management LLC’s holdings in SiriusPoint were worth $46,876,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SPNT. USA Financial Formulas acquired a new stake in SiriusPoint in the 2nd quarter worth approximately $27,000. Quarry LP lifted its stake in shares of SiriusPoint by 1,737.6% in the first quarter. Quarry LP now owns 3,473 shares of the company’s stock worth $60,000 after buying an additional 3,284 shares during the last quarter. US Bancorp DE bought a new stake in shares of SiriusPoint during the 1st quarter worth $65,000. GAMMA Investing LLC grew its stake in SiriusPoint by 14.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after buying an additional 639 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in SiriusPoint in the 1st quarter worth $126,000. 52.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPNT has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of SiriusPoint in a report on Wednesday, October 8th. Wall Street Zen upgraded SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.00.

SiriusPoint Stock Performance

NYSE:SPNT opened at $20.90 on Wednesday. The firm’s 50-day moving average is $18.73 and its 200-day moving average is $18.99. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 13.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.57 and a current ratio of 0.57. SiriusPoint Ltd. has a 52-week low of $13.26 and a 52-week high of $21.19.

SiriusPoint (NYSE:SPNT) last released its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.The business had revenue of $755.90 million for the quarter, compared to the consensus estimate 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.