Harbor Capital Advisors Inc. Takes $6.87 Million Position in SiriusPoint Ltd. (NYSE:SPNT)

Harbor Capital Advisors Inc. acquired a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 397,263 shares of the company's stock, valued at approximately $6,869,000. Harbor Capital Advisors Inc. owned 0.24% of SiriusPoint at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SPNT. Sterling Capital Management LLC lifted its holdings 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 purchasing an additional 2,392 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of SiriusPoint by 14,087.0% during the 4th 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 last quarter. Smartleaf Asset Management LLC raised its stake in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after purchasing an additional 1,779 shares during the period. 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 valued at $173,000 after acquiring an additional 2,115 shares during the last quarter. Finally, Quantessence Capital LLC acquired a new position in shares of SiriusPoint in the 4th quarter valued at about $183,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

SiriusPoint Stock Performance

Shares of SiriusPoint stock traded down $0.25 during trading on Friday, hitting $19.36. 473,716 shares of the stock were exchanged, compared to its average volume of 621,520. The stock's fifty day moving average is $18.20 and its 200 day moving average is $16.16. SiriusPoint Ltd. has a 12 month low of $11.92 and a 12 month high of $19.87. The stock has a market cap of $2.26 billion, a PE ratio of 20.17 and a beta of 0.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Insider Activity

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the company'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 now owns 127,578 shares of the company's stock, valued at approximately $2,494,149.90. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.