SiriusPoint (NYSE:SPNT) Sets New 12-Month High – Here’s What Happened

SiriusPoint Ltd. (NYSE:SPNT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.47 and last traded at $17.37, with a volume of 129198 shares. The stock had previously closed at $17.06.

Wall Street Analyst Weigh In

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

SiriusPoint Stock Up 2.5 %

The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 18.21 and a beta of 0.87. The firm’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $14.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

SiriusPoint (NYSE:SPNT) last announced 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 firm had revenue of $612.80 million during the quarter.

Insider Buying and Selling at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the completion of the sale, the director now owns 9,428,008 shares in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiriusPoint

Several hedge funds have recently modified their holdings of SPNT. R Squared Ltd purchased a new stake in shares of SiriusPoint during the 4th quarter valued at $35,000. Sterling Capital Management LLC increased its holdings in SiriusPoint by 742.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock worth $44,000 after buying an additional 2,392 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 worth $53,000 after acquiring an additional 1,779 shares during the period. Farther Finance Advisors LLC boosted its stake in SiriusPoint by 14,087.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock valued at $53,000 after buying an additional 3,240 shares during the period. Finally, KBC Group NV grew its stake in SiriusPoint by 80.1% in the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock worth $97,000 after buying an additional 2,640 shares in the last quarter. 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.