Texas Permanent School Fund Corp Sells 144,765 Shares of SiriusPoint Ltd. $SPNT

Texas Permanent School Fund Corp decreased its position in SiriusPoint Ltd. (NYSE:SPNT) by 45.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 171,878 shares of the company’s stock after selling 144,765 shares during the quarter. Texas Permanent School Fund Corp’s holdings in SiriusPoint were worth $3,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC raised its stake in shares of SiriusPoint by 24.9% during the second quarter. Neuberger Berman Group LLC now owns 14,096 shares of the company’s stock worth $287,000 after acquiring an additional 2,810 shares in the last quarter. State of Wyoming grew its holdings in shares of SiriusPoint by 33.3% during the 2nd quarter. State of Wyoming now owns 38,889 shares of the company’s stock valued at $793,000 after purchasing an additional 9,716 shares during the last quarter. Public Sector Pension Investment Board raised its position in SiriusPoint by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 314,153 shares of the company’s stock worth $6,406,000 after purchasing an additional 21,596 shares during the period. Tower Research Capital LLC TRC lifted its stake in SiriusPoint by 161.6% in the second quarter. Tower Research Capital LLC TRC now owns 11,375 shares of the company’s stock worth $232,000 after purchasing an additional 7,027 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new stake in SiriusPoint in the second quarter worth $361,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Up 0.4%

NYSE SPNT opened at $22.03 on Friday. SiriusPoint Ltd. has a 1 year low of $13.26 and a 1 year high of $22.79. The stock has a market capitalization of $2.57 billion, a PE ratio of 13.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day moving average is $19.96 and its 200 day moving average is $19.25.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.21. The business had revenue of $755.90 million during the quarter, compared to analysts’ expectations of $738.35 million. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.

Analyst Ratings Changes

SPNT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday. Wall Street Zen upgraded SiriusPoint from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, SiriusPoint has a consensus rating of “Buy” and an average target price of $25.00.

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.