Rhumbline Advisers Has $4.46 Million Stock Position in SiriusPoint Ltd. (NYSE:SPNT)

Rhumbline Advisers lessened its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 257,883 shares of the company's stock after selling 17,668 shares during the period. Rhumbline Advisers owned about 0.16% of SiriusPoint worth $4,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. 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 valued at $44,000 after buying an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in SiriusPoint by 122.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after acquiring an additional 1,779 shares during the period. Farther Finance Advisors LLC grew its stake in 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 in the last quarter. Tower Research Capital LLC TRC increased 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 during the period. Finally, Quantessence Capital LLC purchased a new stake in shares of SiriusPoint in the fourth quarter worth approximately $183,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Stock Down 1.2%

Shares of SPNT traded down $0.23 during midday trading on Tuesday, reaching $19.33. 568,186 shares of the stock were exchanged, compared to its average volume of 622,409. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 20.14 and a beta of 0.86. 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 Ltd. has a 12-month low of $11.96 and a 12-month high of $20.00. The firm has a 50 day simple moving average of $18.35 and a 200-day simple moving average of $16.22.

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 the consensus estimate of $0.26 by $0.23. The firm had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a net margin of 6.30% and a return on equity of 7.78%.

Insider Activity

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the company's stock in a transaction dated 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 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. 10.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SPNT has been the subject of several research reports. Wall Street Zen upgraded shares of SiriusPoint from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a research note on Tuesday, April 15th. They set a "hold" rating and a $17.00 target price for the company. Finally, DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.

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.