Legal & General Group Plc Invests $5.76 Million in SiriusPoint Ltd. $SPNT

Legal & General Group Plc bought a new stake in SiriusPoint Ltd. (NYSE:SPNT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 240,141 shares of the company’s stock, valued at approximately $5,763,000. Legal & General Group Plc owned 0.21% of SiriusPoint at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPNT. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 1,377 shares during the period. Leonteq Securities AG acquired a new stake in SiriusPoint during the 4th quarter worth $136,000. Inspire Investing LLC acquired a new stake in SiriusPoint during the 4th quarter worth $185,000. Royal Bank of Canada lifted its holdings in SiriusPoint by 64.0% during the fourth quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock worth $192,000 after acquiring an additional 3,430 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of SiriusPoint in the third quarter worth about $192,000. Institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT stock opened at $24.88 on Friday. SiriusPoint Ltd. has a 12 month low of $17.17 and a 12 month high of $26.48. The company’s fifty day simple moving average is $24.18 and its 200-day simple moving average is $22.88. The firm has a market cap of $2.89 billion, a PE ratio of 6.07 and a beta of 0.61. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The firm had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. Equities research analysts expect that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPNT shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of SiriusPoint in a report on Friday, August 7th. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, SiriusPoint currently has an average rating of “Hold” and a consensus price target of $31.00.

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.