Royce & Associates LP trimmed its stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 12.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 148,142 shares of the company's stock after selling 21,109 shares during the period. Royce & Associates LP owned 0.09% of SiriusPoint worth $2,561,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in SPNT. Victory Capital Management Inc. increased its position in SiriusPoint by 4,246.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock worth $47,397,000 after buying an additional 2,678,214 shares during the period. Capital Research Global Investors increased its position in SiriusPoint by 17.8% in the 4th quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock worth $103,257,000 after buying an additional 950,000 shares during the period. Donald Smith & CO. Inc. increased its position in SiriusPoint by 12.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after buying an additional 900,209 shares during the period. Wellington Management Group LLP increased its position in SiriusPoint by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock worth $175,278,000 after buying an additional 838,262 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in SiriusPoint in the 1st quarter worth approximately $6,869,000. 52.79% of the stock is owned by institutional investors.
SiriusPoint Price Performance
Shares of NYSE:SPNT opened at $19.78 on Monday. SiriusPoint Ltd. has a 1-year low of $12.78 and a 1-year high of $21.03. The firm has a market capitalization of $2.31 billion, a PE ratio of 20.60 and a beta of 0.86. The business's 50 day moving average is $19.40 and its 200-day moving average is $17.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.
SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.23. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%. The company had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million.
Analyst Upgrades and Downgrades
SPNT has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target on the stock. Wall Street Zen downgraded SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley began coverage on SiriusPoint in a report on Monday, July 21st. They set a "buy" rating and a $33.00 price objective on the stock. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $25.00.
Read Our Latest Stock Report on SPNT
Insider Buying and Selling
In related news, Director La Gueronniere Rafe De sold 30,000 shares of the business'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 sale, the director owned 127,578 shares of the company's stock, valued at $2,494,149.90. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.32% of the stock is currently owned by corporate insiders.
SiriusPoint Company 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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