Principal Financial Group Inc. Purchases 18,114 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Principal Financial Group Inc. raised its position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,959 shares of the company's stock after acquiring an additional 18,114 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of SiriusPoint worth $9,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake 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 purchasing an additional 2,392 shares in the last quarter. Farther Finance Advisors LLC boosted its position in SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after buying an additional 3,240 shares during the period. GAMMA Investing LLC boosted its position in SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after buying an additional 2,086 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of SiriusPoint by 25.0% in the 4th 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 stake in shares of SiriusPoint in the 4th quarter valued at $183,000. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer set a $25.00 price objective on shares of SiriusPoint and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Finally, Jefferies Financial Group initiated coverage on shares of SiriusPoint in a research report on Tuesday, April 15th. They set a "hold" rating and a $17.00 target price for the company.

SiriusPoint Stock Performance

Shares of NYSE:SPNT traded down $0.26 on Tuesday, reaching $18.37. 463,907 shares of the company's stock were exchanged, compared to its average volume of 608,148. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.14 and a beta of 0.86. SiriusPoint Ltd. has a fifty-two week low of $12.67 and a fifty-two week high of $21.03. The business's 50-day moving average is $19.43 and its two-hundred day moving average is $16.78. 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 released its earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million. SiriusPoint had a net margin of 6.30% and a return on equity of 7.78%.

Insider Transactions at SiriusPoint

In other news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction that occurred on Thursday, May 8th. The shares were 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 trade represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.32% of the stock is owned by company insiders.

SiriusPoint 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.