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 lowered its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and 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 about 6.46% of SiriusPoint worth $130,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted 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 buying an additional 2,392 shares in the last quarter. US Bancorp DE bought a new stake in SiriusPoint during the first quarter worth about $65,000. GAMMA Investing LLC boosted its position in SiriusPoint by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after purchasing an additional 2,086 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 2,115 shares in the last quarter. Finally, Quantessence Capital LLC acquired a new position in shares of SiriusPoint during the 4th quarter worth approximately $183,000. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPNT has been the subject of several recent analyst reports. Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. B. Riley started coverage on shares of SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price target for the company. Finally, Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $25.00.

SiriusPoint Trading Down 0.4%

SPNT stock opened at $18.5510 on Friday. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 20.84 and a beta of 0.86. The company has a fifty day moving average price of $19.14 and a two-hundred day moving average price of $17.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $948.20 million for the quarter, compared to analyst estimates of $720.10 million. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.