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

Texas Permanent School Fund Corp cut its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,878 shares of the company’s stock after selling 144,765 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.15% of SiriusPoint worth $3,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of SPNT. USA Financial Formulas purchased a new stake in shares of SiriusPoint during the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in SiriusPoint by 187.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the period. Quarry LP raised its holdings in SiriusPoint by 1,737.6% during the 1st quarter. Quarry LP now owns 3,473 shares of the company’s stock valued at $60,000 after acquiring an additional 3,284 shares during the period. GAMMA Investing LLC lifted its position in shares of SiriusPoint by 14.6% during the second quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock worth $102,000 after acquiring an additional 639 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of SiriusPoint in the first quarter worth $126,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Analyst Ratings Changes

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

SiriusPoint Stock Up 0.4%

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

SiriusPoint (NYSE:SPNT) last announced its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.21. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%. The business had revenue of $755.90 million during the quarter, compared to analyst estimates of $738.35 million.

SiriusPoint Company 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.