Royce & Associates LP Has $2.56 Million Position in SiriusPoint Ltd. (NYSE:SPNT)

Key Points

• Royce & Associates LP reduced its stake in SiriusPoint Ltd. by 12.5%, selling 21,109 shares and now owning 148,142 shares valued at approximately $2.56 million.
• Other institutional investors showed increased interest, with Victory Capital Management significantly boosting its stake by 4,246.7%, acquiring an additional 2.68 million shares.
• SiriusPoint reported a quarterly EPS of $0.49, exceeding estimates by $0.23, with total revenues reaching $727.30 million.

Royce & Associates LP decreased its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,142 shares of the company's stock after selling 21,109 shares during the quarter. Royce & Associates LP owned approximately 0.09% of SiriusPoint worth $2,561,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC grew its position in shares of SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after purchasing an additional 2,392 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 last quarter. Tower Research Capital LLC TRC grew its holdings in 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 buying an additional 2,115 shares during the last quarter. Quantessence Capital LLC acquired a new stake in SiriusPoint in the 4th quarter valued at approximately $183,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of SiriusPoint in the fourth quarter worth $204,000. Institutional investors and hedge funds own 52.79% of the company's stock.

SiriusPoint Stock Performance

SPNT traded up $0.14 during trading on Thursday, reaching $19.72. 204,497 shares of the company's stock were exchanged, compared to its average volume of 681,920. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $19.41 and a 200 day moving average price of $17.13. SiriusPoint Ltd. has a fifty-two week low of $12.78 and a fifty-two week high of $21.03. The company has a market capitalization of $2.30 billion, a P/E ratio of 20.55 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.23. The company had revenue of $727.30 million for the quarter, compared to the consensus estimate of $688.00 million. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. B. Riley began coverage on shares of SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective on the stock. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Jefferies Financial Group initiated coverage on SiriusPoint in a research report on Tuesday, April 15th. They set a "hold" rating and a $17.00 target price on the stock. Finally, Wall Street Zen downgraded SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $25.00.

Insider Activity at SiriusPoint

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the business's stock in a transaction that occurred 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by 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.