Balyasny Asset Management L.P. Makes New Investment in SiriusPoint Ltd. (NYSE:SPNT)

Balyasny Asset Management L.P. purchased a new stake in shares of SiriusPoint Ltd. (NYSE:SPNT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 45,283 shares of the company’s stock, valued at approximately $742,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its position 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 buying an additional 133,331 shares during the period. Smartleaf Asset Management LLC increased its position in SiriusPoint by 122.1% in the 4th 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 during the period. Proficio Capital Partners LLC acquired a new position in shares of SiriusPoint during the fourth quarter worth $246,000. KLP Kapitalforvaltning AS bought a new stake in shares of SiriusPoint in the fourth quarter worth $377,000. Finally, Capital Research Global Investors grew its stake in shares of SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company’s stock worth $103,257,000 after purchasing an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. DOWLING & PARTN upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Jefferies Financial Group began coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price target for the company.

Insider Activity

In related news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint 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 of the company’s stock, valued at approximately $129,257,989.68. This trade represents a 30.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.70% of the stock is currently owned by company insiders.

SiriusPoint Stock Down 1.1%

Shares of NYSE SPNT opened at $19.32 on Thursday. The company has a market capitalization of $2.25 billion, a P/E ratio of 20.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. SiriusPoint Ltd. has a 52-week low of $11.92 and a 52-week high of $19.85. The company’s 50 day moving average price is $16.68 and its 200-day moving average price is $15.39.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

SiriusPoint 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.