Millennium Management LLC Takes Position in SiriusPoint Ltd. (NYSE:SPNT)

Millennium Management LLC bought a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 120,020 shares of the company's stock, valued at approximately $1,967,000. Millennium Management LLC owned 0.07% of SiriusPoint at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of SiriusPoint during the fourth quarter worth about $35,000. Sterling Capital Management LLC grew its holdings in shares of SiriusPoint by 742.9% during the fourth 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. Smartleaf Asset Management LLC grew its holdings in shares of 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 buying an additional 1,779 shares in the last quarter. Farther Finance Advisors LLC grew its stake in SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after purchasing an additional 3,240 shares in the last quarter. Finally, KBC Group NV grew its stake in SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company's stock valued at $97,000 after purchasing an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

Analysts Set New Price Targets

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

SiriusPoint Stock Performance

SPNT traded down $0.33 during trading on Wednesday, hitting $19.16. The stock had a trading volume of 530,427 shares, compared to its average volume of 619,088. The company has a 50 day moving average price of $17.80 and a 200-day moving average price of $15.94. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 19.96 and a beta of 0.81. SiriusPoint Ltd. has a one year low of $11.92 and a one year high of $19.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

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

Insider Activity at SiriusPoint

In other 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 transaction of $586,500.00. Following the completion of the sale, the director now directly owns 127,578 shares in the company, valued at approximately $2,494,149.90. This represents a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.70% of the stock is currently owned by corporate insiders.

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.