Renaissance Technologies LLC Increases Stock Position in SiriusPoint Ltd. (NYSE:SPNT)

Renaissance Technologies LLC increased its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 73.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,987 shares of the company's stock after acquiring an additional 96,687 shares during the quarter. Renaissance Technologies LLC owned about 0.14% of SiriusPoint worth $3,737,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SPNT. Donald Smith & CO. Inc. raised its stake in shares of SiriusPoint by 12.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after acquiring an additional 900,209 shares in the last quarter. Wellington Management Group LLP increased its stake in SiriusPoint by 8.5% during the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock valued at $175,278,000 after purchasing an additional 838,262 shares in the last quarter. American Century Companies Inc. increased its stake in SiriusPoint by 9.3% during the 4th quarter. American Century Companies Inc. now owns 2,656,792 shares of the company's stock valued at $43,545,000 after purchasing an additional 226,870 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in SiriusPoint by 1,946.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 206,606 shares of the company's stock valued at $3,386,000 after purchasing an additional 196,509 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in SiriusPoint by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock valued at $180,878,000 after purchasing an additional 144,963 shares in the last quarter. Institutional investors own 52.79% of the company's stock.

Insider Activity

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.32% of the company's stock.

Analyst Upgrades and Downgrades

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

SiriusPoint Stock Performance

Shares of SPNT stock traded up $0.08 during trading hours on Monday, hitting $16.62. The company's stock had a trading volume of 776,048 shares, compared to its average volume of 600,091. The company has a 50 day moving average of $15.75 and a 200 day moving average of $15.01. The stock has a market cap of $2.70 billion, a PE ratio of 17.31 and a beta of 0.72. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. SiriusPoint Ltd. has a 12-month low of $11.54 and a 12-month high of $17.99.

SiriusPoint (NYSE:SPNT - Get Free Report) last released 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 business 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%.

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.