SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s stock price was up 8.4% during mid-day trading on Thursday . The company traded as high as $20.94 and last traded at $20.99. Approximately 96,369 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 614,916 shares. The stock had previously closed at $19.36.
Analysts Set New Price Targets
SPNT has been the subject of several recent analyst reports. Oppenheimer set a $25.00 target price on SiriusPoint and gave the stock an "outperform" rating in a research note on Thursday. Jefferies Financial Group began coverage on SiriusPoint in a report on Tuesday, April 15th. They set 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 note on Thursday, March 6th. Finally, Wall Street Zen upgraded shares of SiriusPoint from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.
Read Our Latest Analysis on SPNT
SiriusPoint Stock Performance
The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 21.27 and a beta of 0.86. The company has a 50 day moving average price of $18.82 and a 200 day moving average price of $16.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60.
SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%.
Insider Buying and Selling
In related news, Director La Gueronniere Rafe De sold 30,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the director now owns 127,578 shares in the company, valued at $2,494,149.90. This represents a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On SiriusPoint
A number of hedge funds have recently added to or reduced their stakes in SPNT. Vanguard Group Inc. raised its stake in shares of SiriusPoint by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock worth $180,878,000 after purchasing an additional 144,963 shares during the last quarter. Wellington Management Group LLP grew its holdings in SiriusPoint by 3.2% during the first quarter. Wellington Management Group LLP now owns 11,035,310 shares of the company's stock worth $190,801,000 after buying an additional 341,096 shares in the last quarter. Donald Smith & CO. Inc. raised its position in SiriusPoint by 12.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock valued at $129,282,000 after buying an additional 900,209 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in SiriusPoint by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company's stock valued at $124,018,000 after acquiring an additional 252,120 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in SiriusPoint by 17.8% during the 4th quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock valued at $103,257,000 after acquiring an additional 950,000 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.
SiriusPoint Company Profile
(
Get Free Report)
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.
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