First Trust Advisors LP Sells 80,255 Shares of SiriusPoint Ltd. (NYSE:SPNT)

First Trust Advisors LP lessened its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,504 shares of the company's stock after selling 80,255 shares during the period. First Trust Advisors LP owned approximately 0.19% of SiriusPoint worth $5,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPNT. R Squared Ltd acquired a new stake in shares of SiriusPoint during the 4th quarter worth $35,000. Sterling Capital Management LLC grew its stake in SiriusPoint by 742.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after buying an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after buying an additional 1,779 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after buying an additional 3,240 shares during the period. Finally, KBC Group NV raised its position in shares of SiriusPoint by 80.1% in the 4th quarter. KBC Group NV now owns 5,935 shares of the company's stock valued at $97,000 after buying an additional 2,640 shares in the last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Jefferies Financial Group assumed coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target on the stock.

SiriusPoint Price Performance

NYSE SPNT traded up $0.98 during trading on Friday, hitting $17.92. 686,123 shares of the company's stock were exchanged, compared to its average volume of 601,868. The stock's 50 day moving average price is $15.99 and its two-hundred day moving average price is $15.09. SiriusPoint Ltd. has a fifty-two week low of $11.92 and a fifty-two week high of $18.00. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.91 billion, a PE ratio of 18.67 and a beta of 0.72.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.49). The company had revenue of $612.80 million during the quarter. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Insider Activity at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the completion of the transaction, the director now owns 9,428,008 shares in the company, valued at $129,257,989.68. This trade represents a 30.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.70% of the stock is currently owned by company insiders.

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.