First Trust Advisors LP Cuts Stake in SiriusPoint Ltd. (NYSE:SPNT)

First Trust Advisors LP trimmed its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 20.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,504 shares of the company's stock after selling 80,255 shares during the period. First Trust Advisors LP owned about 0.19% of SiriusPoint worth $5,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC increased its stake in SiriusPoint by 172.7% in the third quarter. Barclays PLC now owns 210,545 shares of the company's stock valued at $3,018,000 after purchasing an additional 133,331 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of SiriusPoint by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 784,105 shares of the company's stock worth $12,851,000 after acquiring an additional 50,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SiriusPoint during the 4th quarter valued at $185,000. Exchange Traded Concepts LLC boosted its stake in shares of SiriusPoint by 4.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 123,912 shares of the company's stock valued at $2,031,000 after purchasing an additional 5,075 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in SiriusPoint by 8.4% in the fourth quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company's stock valued at $409,000 after purchasing an additional 1,945 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

Analysts Set New Price Targets

SPNT has been the subject of several analyst reports. Jefferies Financial Group started coverage on shares of SiriusPoint in a report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target for the company. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th.

SiriusPoint Price Performance

SPNT stock traded down $0.25 on Wednesday, reaching $19.29. 1,214,535 shares of the company's stock were exchanged, compared to its average volume of 606,305. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.13 billion, a PE ratio of 20.09 and a beta of 0.81. SiriusPoint Ltd. has a twelve month low of $11.92 and a twelve month high of $19.74. The stock has a fifty day moving average of $16.22 and a 200-day moving average of $15.19.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $688.00 million.

Insider Activity

In other news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the sale, the director now directly owns 9,428,008 shares of the company's stock, valued at approximately $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.70% of the stock is currently owned by corporate 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.