Maryland State Retirement & Pension System Sells 1,824 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Maryland State Retirement & Pension System trimmed its stake in SiriusPoint Ltd. (NYSE:SPNT) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,071 shares of the company’s stock after selling 1,824 shares during the period. Maryland State Retirement & Pension System’s holdings in SiriusPoint were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in SiriusPoint by 122.1% during 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 last quarter. Flagship Harbor Advisors LLC grew its stake in SiriusPoint by 8.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company’s stock valued at $409,000 after buying an additional 1,945 shares during the last quarter. R Squared Ltd bought a new position in SiriusPoint in the 4th quarter worth $35,000. KBC Group NV lifted its position in SiriusPoint by 80.1% during the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock worth $97,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in SiriusPoint by 5.9% during the third quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock valued at $823,000 after acquiring an additional 3,177 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DOWLING & PARTN upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th.

Insider Buying and Selling

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total value 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 $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.32% of the stock is owned by company insiders.

SiriusPoint Stock Up 3.1 %

Shares of SPNT stock opened at $16.25 on Tuesday. The stock has a 50 day moving average of $14.67 and a 200-day moving average of $14.54. The firm has a market cap of $2.64 billion, a PE ratio of 16.93 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. SiriusPoint Ltd. has a 12 month low of $11.49 and a 12 month high of $16.50.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.49). SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%. The company had revenue of $612.80 million during the quarter.

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.