Hennessy Advisors Inc. Sells 80,400 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Hennessy Advisors Inc. lessened its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,705 shares of the company's stock after selling 80,400 shares during the period. Hennessy Advisors Inc. owned approximately 0.43% of SiriusPoint worth $12,167,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Sterling Capital Management LLC lifted its stake in SiriusPoint by 742.9% in the 4th 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 in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of SiriusPoint by 14,087.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock worth $53,000 after acquiring an additional 3,240 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of SiriusPoint by 25.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock valued at $173,000 after acquiring an additional 2,115 shares during the period. Institutional investors own 52.79% of the company's stock.

Insider Buying and Selling

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the director now directly owns 127,578 shares of the company's stock, valued at $2,494,149.90. This represents a 19.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.70% of the stock is currently owned by company insiders.

SiriusPoint Price Performance

SPNT stock traded down $0.23 during mid-day trading on Tuesday, hitting $19.33. 568,186 shares of the stock were exchanged, compared to its average volume of 621,647. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56. The business has a fifty day moving average price of $18.29 and a 200 day moving average price of $16.20. SiriusPoint Ltd. has a 12 month low of $11.92 and a 12 month high of $20.00. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.14 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results 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. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%. The company had revenue of $727.30 million during the quarter, compared to analyst estimates of $688.00 million.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DOWLING & PARTN raised SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Wall Street Zen raised SiriusPoint from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Jefferies Financial Group assumed coverage on SiriusPoint in a report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 target price for the company.

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.