Bank of New York Mellon Corp Has $12.17 Million Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Bank of New York Mellon Corp cut its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 703,659 shares of the company's stock after selling 34,881 shares during the period. Bank of New York Mellon Corp owned about 0.43% of SiriusPoint worth $12,166,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in SiriusPoint by 742.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after acquiring an additional 2,392 shares during the last quarter. Farther Finance Advisors LLC grew its position in SiriusPoint by 14,087.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock worth $53,000 after acquiring an additional 3,240 shares during the last quarter. GAMMA Investing LLC grew its position 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 acquiring an additional 2,086 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 2,115 shares during the last quarter. Finally, Quantessence Capital LLC bought a new position in SiriusPoint in the 4th quarter valued at $183,000. 52.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPNT. Jefferies Financial Group began coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price objective on the stock. B. Riley began coverage on SiriusPoint in a research report on Monday. They issued a "buy" rating and a $33.00 price objective on the stock. Wall Street Zen lowered SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an "outperform" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $25.00.

Insider Activity

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the firm's stock in a transaction 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 directly owned 127,578 shares in the company, valued at $2,494,149.90. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.70% of the stock is owned by corporate insiders.

SiriusPoint Trading Down 0.6%

Shares of NYSE:SPNT traded down $0.12 during midday trading on Thursday, hitting $19.59. The company had a trading volume of 1,103,590 shares, compared to its average volume of 628,130. SiriusPoint Ltd. has a 12 month low of $12.78 and a 12 month high of $21.03. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 20.40 and a beta of 0.86. The firm has a fifty day simple moving average of $19.39 and a 200 day simple moving average of $16.99.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $688.00 million.

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.