Bank of America Corp DE Sells 142,279 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Bank of America Corp DE lessened its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 71.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of 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 acquiring an additional 2,392 shares during the period. Farther Finance Advisors LLC boosted its position in shares of SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after acquiring an additional 3,240 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of SiriusPoint by 122.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock valued at $53,000 after acquiring an additional 1,779 shares during the period. KBC Group NV boosted its position in shares of SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company's stock valued at $97,000 after acquiring an additional 2,640 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of SiriusPoint by 25.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock valued at $173,000 after acquiring an additional 2,115 shares during the period. Institutional investors own 52.79% of the company's stock.

SiriusPoint Price Performance

NYSE SPNT traded down $0.16 during trading on Wednesday, hitting $19.16. 586,319 shares of the company's stock were exchanged, compared to its average volume of 621,101. The company has a market cap of $2.23 billion, a PE ratio of 19.95 and a beta of 0.86. 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 stock's 50 day moving average price is $18.04 and its two-hundred day moving average price is $16.10. SiriusPoint Ltd. has a fifty-two week low of $11.92 and a fifty-two week high of $19.87.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced 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. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%. The business had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million.

Insiders Place Their Bets

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the company'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 transaction of $586,500.00. Following the transaction, the director now directly owns 127,578 shares of the company's stock, valued at $2,494,149.90. This represents 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 through this link. Company insiders own 11.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. DOWLING & PARTN raised SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Wall Street Zen raised SiriusPoint from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, Jefferies Financial Group assumed coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target for the company.

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.