Principal Financial Group Inc. raised its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 529,959 shares of the company's stock after acquiring an additional 18,114 shares during the period. Principal Financial Group Inc. owned about 0.33% of SiriusPoint worth $9,163,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in SiriusPoint by 742.9% during the fourth 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 during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SiriusPoint by 14,087.0% during 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 during the period. GAMMA Investing LLC boosted its stake in shares of 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 period. Tower Research Capital LLC TRC boosted its stake in shares of SiriusPoint by 25.0% during 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 during the period. Finally, Quantessence Capital LLC purchased a new stake in shares of SiriusPoint during the fourth quarter valued at approximately $183,000. 52.79% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on SPNT shares. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 target price for the company. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an "outperform" rating in a research report on Thursday, June 26th.
View Our Latest Analysis on SPNT
SiriusPoint Stock Performance
Shares of SiriusPoint stock traded up $0.02 during trading hours on Friday, reaching $19.10. 162,721 shares of the stock traded hands, compared to its average volume of 605,366. The company has a 50 day moving average price of $19.40 and a 200 day moving average price of $16.87. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.89 and a beta of 0.86. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36.
SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.23. The company had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%.
Insider Buying and Selling
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 owned 127,578 shares of the company's stock, valued at $2,494,149.90. This represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.70% of the stock is owned by company insiders.
SiriusPoint Profile
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Free Report)
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.
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