Assenagon Asset Management S.A. Acquires 24,074 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Assenagon Asset Management S.A. lifted its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 67.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,750 shares of the company's stock after purchasing an additional 24,074 shares during the quarter. Assenagon Asset Management S.A.'s holdings in SiriusPoint were worth $1,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mariner LLC increased its position in shares of SiriusPoint by 6.3% during the fourth quarter. Mariner LLC now owns 20,792 shares of the company's stock worth $341,000 after acquiring an additional 1,230 shares in the last quarter. Bank of Montreal Can lifted its position in SiriusPoint by 8.4% in the 4th quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock valued at $295,000 after acquiring an additional 1,393 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 1,779 shares during the period. GAMMA Investing LLC increased its holdings in SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of SiriusPoint by 25.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock valued at $173,000 after purchasing an additional 2,115 shares during the period. 52.79% of the stock is owned by institutional investors.

SiriusPoint Stock Down 0.4%

SPNT stock traded down $0.07 during midday trading on Friday, hitting $19.25. The company's stock had a trading volume of 1,052,184 shares, compared to its average volume of 619,106. The company's fifty day moving average price is $18.55 and its 200 day moving average price is $16.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint Ltd. has a twelve month low of $11.96 and a twelve month high of $20.00. The stock has a market capitalization of $2.24 billion, a P/E ratio of 20.05 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.23. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%. The business had revenue of $727.30 million for the quarter, compared to the consensus estimate of $688.00 million.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPNT. Wall Street Zen raised SiriusPoint from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Jefferies Financial Group assumed coverage on SiriusPoint in a research report on Tuesday, April 15th. They set a "hold" rating and a $17.00 price target for the company. Finally, DOWLING & PARTN upgraded shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th.

Insiders Place Their Bets

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the director now owns 127,578 shares in the company, valued at $2,494,149.90. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 11.70% of the company's stock.

About SiriusPoint

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.