PDT Partners LLC Invests $3.40 Million in SiriusPoint Ltd. $SPNT

PDT Partners LLC bought a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) during the second quarter, Holdings Channel.com reports. The fund bought 141,654 shares of the company’s stock, valued at approximately $3,400,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG acquired a new stake in SiriusPoint in the fourth quarter valued at $136,000. Inspire Investing LLC acquired a new stake in shares of SiriusPoint during the 4th quarter worth about $185,000. Royal Bank of Canada increased its stake in SiriusPoint by 64.0% in the fourth quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock valued at $192,000 after purchasing an additional 3,430 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of SiriusPoint during the 3rd quarter worth approximately $192,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT opened at $23.91 on Thursday. SiriusPoint Ltd. has a 1 year low of $17.17 and a 1 year high of $26.48. The stock has a market capitalization of $2.78 billion, a P/E ratio of 5.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. The company’s fifty day moving average is $24.03 and its two-hundred day moving average is $22.71.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. On average, sell-side analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

SPNT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a research note on Friday, August 7th. Finally, Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, SiriusPoint presently has a consensus rating of “Hold” and an average target price of $31.00.

SiriusPoint Company 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.