Balyasny Asset Management L.P. Takes Position in SiriusPoint Ltd. (NYSE:SPNT)

Balyasny Asset Management L.P. acquired a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 45,283 shares of the company's stock, valued at approximately $742,000.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of SiriusPoint in the 4th quarter worth approximately $35,000. Sterling Capital Management LLC raised its holdings in shares of SiriusPoint by 742.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after buying an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of SiriusPoint by 122.1% in the 4th 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 in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock worth $53,000 after buying an additional 3,240 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of SiriusPoint by 80.1% in the 4th quarter. KBC Group NV now owns 5,935 shares of the company's stock worth $97,000 after buying an additional 2,640 shares in the last quarter. Institutional investors own 52.79% of the company's stock.

SiriusPoint Trading Down 0.1%

Shares of NYSE SPNT traded down $0.03 during midday trading on Tuesday, hitting $19.63. The stock had a trading volume of 82,296 shares, compared to its average volume of 619,519. The company's 50-day simple moving average is $16.98 and its 200 day simple moving average is $15.55. The firm has a market cap of $2.29 billion, a P/E ratio of 20.44 and a beta of 0.81. SiriusPoint Ltd. has a fifty-two week low of $11.92 and a fifty-two week high of $19.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

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 company had revenue of $727.30 million during 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%.

Analyst Ratings Changes

Several equities analysts have issued reports on SPNT shares. DOWLING & PARTN upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Jefferies Financial Group started coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price objective for the company.

Insider Activity

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