Northern Trust Corp Grows Stake in SiriusPoint Ltd. (NYSE:SPNT)

Northern Trust Corp raised its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,059,021 shares of the company's stock after buying an additional 88,296 shares during the quarter. Northern Trust Corp owned about 0.65% of SiriusPoint worth $17,357,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SPNT. Mariner LLC grew its holdings in SiriusPoint by 6.3% during the fourth quarter. Mariner LLC now owns 20,792 shares of the company's stock worth $341,000 after acquiring an additional 1,230 shares during the period. Bank of Montreal Can boosted its stake in shares of SiriusPoint by 8.4% in the fourth quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock worth $295,000 after acquiring an additional 1,393 shares during the last quarter. Smartleaf Asset Management LLC raised its position in SiriusPoint by 122.1% in the fourth 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 during the period. Flagship Harbor Advisors LLC raised its position 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 during the period. Finally, R Squared Ltd purchased a new stake in shares of SiriusPoint in the 4th quarter valued at $35,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 9,428,008 shares of the company's stock, valued at approximately $129,257,989.68. This represents a 30.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the transaction, the director now directly owns 127,578 shares of the company's stock, valued at approximately $2,494,149.90. This trade represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

SiriusPoint Stock Up 0.0%

SPNT traded up $0.01 on Tuesday, hitting $19.66. 68,397 shares of the company were exchanged, compared to its average volume of 619,480. SiriusPoint Ltd. has a twelve month low of $11.92 and a twelve month high of $19.85. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 20.47 and a beta of 0.81. 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 firm has a 50-day moving average price of $16.98 and a two-hundred day moving average price of $15.55.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.23. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The company had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million.

SiriusPoint Company 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.