SiriusPoint (NYSE:SPNT) Hits New 1-Year High - Here's Why

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $18.00 and last traded at $17.92, with a volume of 686021 shares changing hands. The stock had previously closed at $16.94.

Analyst Ratings Changes

SPNT has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on SiriusPoint in a research note on Tuesday, April 15th. They set a "hold" rating and a $17.00 price target for the company. DOWLING & PARTN upgraded shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

SiriusPoint Trading Up 1.5 %

The company has a market cap of $3.17 billion, a price-to-earnings ratio of 20.39 and a beta of 0.81. 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 company's 50-day moving average is $16.22 and its 200 day moving average is $15.19.

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

Insider Buying and Selling

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction dated 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 owns 9,428,008 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in SiriusPoint during the 4th quarter valued at $35,000. Sterling Capital Management LLC grew its position in SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after acquiring an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in SiriusPoint by 122.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after purchasing an additional 1,779 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of SiriusPoint by 14,087.0% during 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 last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after acquiring an additional 2,086 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

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.