Dimensional Fund Advisors LP Sells 31,454 Shares of SiriusPoint Ltd. $SPNT

Key Points

• Dimensional Fund Advisors LP reduced its holdings in SiriusPoint Ltd. by 0.4%, now owning approximately 6.46% of the company with a value of $130.3 million after selling 31,454 shares.
• Institutional investors collectively hold 52.79% of SiriusPoint's stock, with several hedge funds significantly increasing their stakes in recent months.
• SiriusPoint's stock price is currently $18.55, with a price target set at $25.00 by Oppenheimer, indicating an "outperform" rating based on recent analyst reports.

Dimensional Fund Advisors LP reduced its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,536,743 shares of the company's stock after selling 31,454 shares during the period. Dimensional Fund Advisors LP owned 6.46% of SiriusPoint worth $130,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of SiriusPoint by 742.9% during the 4th 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 in the last quarter. US Bancorp DE bought a new stake in SiriusPoint in the first quarter worth $65,000. GAMMA Investing LLC boosted its holdings in SiriusPoint by 91.0% in the first 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. Tower Research Capital LLC TRC boosted its holdings in SiriusPoint by 25.0% in 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. Finally, Quantessence Capital LLC bought a new stake in SiriusPoint in the fourth quarter worth $183,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

SiriusPoint Stock Performance

SiriusPoint stock traded up $0.30 on Wednesday, reaching $18.59. 1,136,659 shares of the stock were exchanged, compared to its average volume of 836,549. The stock has a market cap of $2.17 billion, a PE ratio of 20.88 and a beta of 0.86. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint Ltd. has a twelve month low of $12.78 and a twelve month high of $21.03. The firm has a fifty day moving average price of $19.07 and a two-hundred day moving average price of $17.67.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.10. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%. The business had revenue of $948.20 million during the quarter, compared to analysts' expectations of $720.10 million.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Oppenheimer set a $25.00 price objective on shares of SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. Finally, B. Riley began coverage on shares of SiriusPoint in a research report on Monday, July 21st. They set a "buy" rating and a $33.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, SiriusPoint has a consensus rating of "Buy" and a consensus target price of $25.00.

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.