Northern Trust Corp Sells 32,957 Shares of SiriusPoint Ltd. $SPNT

Key Points

• Northern Trust Corp has reduced its stake in SiriusPoint Ltd. by 3.1%, owning approximately 1,026,064 shares valued at $17.74 million after selling 32,957 shares in Q1.
• Several hedge funds significantly increased their holdings in SiriusPoint, with Victory Capital Management raising its position by 4,246.7%, acquiring 2,741,280 shares valued at $47.4 million.
• SiriusPoint reported earnings with an EPS of $0.66, exceeding analysts' expectations, and had a revenue of $948.2 million during the last quarter.

Northern Trust Corp decreased its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,026,064 shares of the company's stock after selling 32,957 shares during the period. Northern Trust Corp owned about 0.88% of SiriusPoint worth $17,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPNT. Tower Research Capital LLC TRC boosted its stake in SiriusPoint by 25.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock worth $173,000 after purchasing an additional 2,115 shares in the last quarter. Jane Street Group LLC boosted its stake in SiriusPoint by 42.7% in the fourth quarter. Jane Street Group LLC now owns 61,976 shares of the company's stock worth $1,016,000 after purchasing an additional 18,531 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in SiriusPoint in the fourth quarter worth $204,000. Balyasny Asset Management L.P. acquired a new position in SiriusPoint in the fourth quarter worth $742,000. Finally, Bridgeway Capital Management LLC boosted its stake in SiriusPoint by 0.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,413,385 shares of the company's stock worth $23,165,000 after purchasing an additional 10,558 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen lowered SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Oppenheimer set a $25.00 price objective on SiriusPoint and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, B. Riley assumed coverage on SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $25.00.

SiriusPoint Trading Down 0.5%

Shares of SPNT stock traded down $0.10 on Friday, reaching $18.75. 878,414 shares of the stock were exchanged, compared to its average volume of 846,034. The stock has a market cap of $2.19 billion, a PE ratio of 21.07 and a beta of 0.85. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50 day moving average price of $18.93 and a 200 day moving average price of $17.94.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.10. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.The company had revenue of $948.20 million during the quarter, compared to the consensus estimate of $720.10 million.

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.