Capital Research Global Investors Purchases 950,000 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Capital Research Global Investors increased its position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 17.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,300,000 shares of the company's stock after purchasing an additional 950,000 shares during the period. Capital Research Global Investors owned 3.89% of SiriusPoint worth $103,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in SiriusPoint by 172.7% during the third quarter. Barclays PLC now owns 210,545 shares of the company's stock worth $3,018,000 after buying an additional 133,331 shares in the last quarter. Geode Capital Management LLC boosted its holdings in SiriusPoint by 5.3% in the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company's stock worth $32,769,000 after purchasing an additional 115,868 shares in the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 7,320 shares in the last quarter. Hennessy Advisors Inc. grew its stake in SiriusPoint by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 784,105 shares of the company's stock valued at $12,851,000 after buying an additional 50,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in SiriusPoint in the 4th quarter worth approximately $185,000. 52.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPNT. DOWLING & PARTN raised 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 set a "hold" rating and a $17.00 price objective for the company.

SiriusPoint Stock Up 1.2 %

Shares of SiriusPoint stock traded up $0.19 on Wednesday, reaching $16.58. 630,277 shares of the company were exchanged, compared to its average volume of 605,893. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $15.60 and a 200 day moving average of $14.92. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.27 and a beta of 0.72. SiriusPoint Ltd. has a one year low of $11.54 and a one year high of $17.99.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.13) earnings per share 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 for the quarter.

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.