Balyasny Asset Management L.P. Purchases New Shares in SiriusPoint Ltd. (NYSE:SPNT)

Balyasny Asset Management L.P. purchased a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 45,283 shares of the company's stock, valued at approximately $742,000.

Other hedge funds have also added to or reduced their stakes in the company. Mariner LLC boosted its holdings in SiriusPoint by 6.3% during the fourth quarter. Mariner LLC now owns 20,792 shares of the company's stock worth $341,000 after buying an additional 1,230 shares during the last quarter. Bank of Montreal Can boosted its holdings in SiriusPoint by 8.4% during the fourth quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock worth $295,000 after buying an additional 1,393 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after buying an additional 1,779 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of SiriusPoint by 8.4% during the 4th quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company's stock valued at $409,000 after purchasing an additional 1,945 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of SiriusPoint during the 4th quarter valued at about $35,000. Institutional investors own 52.79% of the company's stock.

SiriusPoint Stock Down 1.7%

Shares of NYSE:SPNT traded down $0.33 during trading on Friday, hitting $19.25. 1,755,279 shares of the company's stock traded hands, compared to its average volume of 619,467. SiriusPoint Ltd. has a 52 week low of $11.92 and a 52 week high of $19.85. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 20.05 and a beta of 0.81. The company has a 50-day moving average price of $16.87 and a 200-day moving average price of $15.48.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

Wall Street Analysts Forecast Growth

SPNT has been the topic of several recent analyst reports. DOWLING & PARTN upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Jefferies Financial Group initiated coverage on SiriusPoint in a report on Tuesday, April 15th. They set a "hold" rating and a $17.00 price objective on the stock.

Insider Buying and Selling at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the transaction, the director now directly owns 9,428,008 shares of the company's stock, valued at approximately $129,257,989.68. The trade was a 30.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Gueronniere Rafe De sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the transaction, the director now directly owns 127,578 shares in the company, valued at $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company's stock.

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.