D. E. Shaw & Co. Inc. Decreases Position in SiriusPoint Ltd. (NYSE:SPNT)

D. E. Shaw & Co. Inc. cut its position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 56.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,746 shares of the company's stock after selling 31,634 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in SiriusPoint were worth $406,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mariner LLC increased its holdings in SiriusPoint by 6.3% in the 4th quarter. Mariner LLC now owns 20,792 shares of the company's stock worth $341,000 after buying an additional 1,230 shares during the period. Bank of Montreal Can lifted its position in shares of SiriusPoint by 8.4% during the 4th quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock valued at $295,000 after buying an additional 1,393 shares in the last quarter. Smartleaf Asset Management LLC raised 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 valued at $53,000 after purchasing an additional 1,779 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in SiriusPoint by 8.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company's stock valued at $409,000 after purchasing an additional 1,945 shares during the last quarter. Finally, R Squared Ltd acquired a new position in SiriusPoint in the 4th quarter valued at $35,000. 52.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

SiriusPoint Stock Down 0.4%

Shares of SPNT traded down $0.07 during midday trading on Friday, hitting $19.58. The company had a trading volume of 662,896 shares, compared to its average volume of 619,832. The company's 50-day simple moving average is $17.68 and its 200-day simple moving average is $15.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The firm has a market capitalization of $2.28 billion, a P/E ratio of 20.40 and a beta of 0.81. SiriusPoint Ltd. has a 1 year low of $11.92 and a 1 year high of $19.87.

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

Insider Activity

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the business'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 value of $586,500.00. Following the transaction, the director now owns 127,578 shares of the company's stock, valued at approximately $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.70% of the company's stock.

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.