Capital Research Global Investors Raises Position in SiriusPoint Ltd. (NYSE:SPNT)

Capital Research Global Investors grew its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300,000 shares of the company’s stock after acquiring an additional 950,000 shares during the period. Capital Research Global Investors’ holdings in SiriusPoint were worth $103,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Barclays PLC grew its stake in SiriusPoint by 172.7% during the 3rd quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after purchasing an additional 133,331 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiriusPoint by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock valued at $7,403,000 after buying an additional 7,320 shares during the period. Geode Capital Management LLC increased its stake in shares of SiriusPoint by 5.3% during the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after buying an additional 115,868 shares during the period. Smartleaf Asset Management LLC raised its holdings in SiriusPoint by 122.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in SiriusPoint in the fourth quarter worth approximately $246,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPNT. DOWLING & PARTN raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Jefferies Financial Group assumed coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price target on the stock.

SiriusPoint Stock Performance

Shares of SPNT opened at $16.70 on Monday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.39 and a beta of 0.72. SiriusPoint Ltd. has a 52-week low of $11.54 and a 52-week high of $17.99. 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 stock has a 50 day moving average price of $15.47 and a 200 day moving average price of $14.88.

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

Insider Transactions at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.32% 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.