Geode Capital Management LLC Lowers Position in SiriusPoint Ltd. (NYSE:SPNT)

Geode Capital Management LLC decreased its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,193,032 shares of the company's stock after selling 91,694 shares during the quarter. Geode Capital Management LLC owned about 1.35% of SiriusPoint worth $35,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in SiriusPoint during the 4th quarter worth approximately $35,000. Smartleaf Asset Management LLC grew its position 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 valued at $53,000 after purchasing an additional 1,779 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock worth $53,000 after purchasing an additional 3,240 shares during the period. KBC Group NV raised its position in shares of SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company's stock worth $97,000 after buying an additional 2,640 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in SiriusPoint during the fourth quarter valued at $185,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

Analyst Ratings Changes

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

SiriusPoint Price Performance

SPNT traded up $0.34 during trading on Friday, reaching $16.70. The stock had a trading volume of 634,756 shares, compared to its average volume of 603,646. The business has a 50-day moving average of $15.47 and a 200-day moving average of $14.88. SiriusPoint Ltd. has a one year low of $11.54 and a one year high of $17.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The stock has a market cap of $2.71 billion, a PE ratio of 17.39 and a beta of 0.72.

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

Insider Activity

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the completion of the sale, the director now directly owns 9,428,008 shares in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.32% of the stock is currently owned by corporate 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.