Bank of America Corp DE Reduces Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Bank of America Corp DE decreased its stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 71.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,114 shares of the company's stock after selling 142,279 shares during the quarter. Bank of America Corp DE's holdings in SiriusPoint were worth $952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC increased its holdings in SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after buying an additional 2,392 shares in the last quarter. Farther Finance Advisors LLC increased its stake 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 valued at $53,000 after purchasing an additional 3,240 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 valued at $53,000 after purchasing an additional 1,779 shares in the last quarter. KBC Group NV raised its holdings in 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 purchasing an additional 2,640 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in SiriusPoint by 25.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock worth $173,000 after purchasing an additional 2,115 shares in the last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Price Performance

SPNT stock traded down $0.16 during trading on Monday, hitting $19.23. The stock had a trading volume of 548,333 shares, compared to its average volume of 620,460. SiriusPoint Ltd. has a twelve month low of $11.92 and a twelve month high of $19.87. The company's 50-day moving average price is $17.91 and its two-hundred day moving average price is $16.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56. The stock has a market capitalization of $2.24 billion, a P/E ratio of 20.03 and a beta of 0.86.

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

Insiders Place Their Bets

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction dated 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 approximately $2,494,149.90. This represents a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SPNT has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed 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. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Finally, Wall Street Zen raised shares of SiriusPoint from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

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.