Martingale Asset Management L P Sells 129,618 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Martingale Asset Management L P reduced its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 75.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,970 shares of the company's stock after selling 129,618 shares during the quarter. Martingale Asset Management L P's holdings in SiriusPoint were worth $688,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of SiriusPoint by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock worth $180,878,000 after purchasing an additional 144,963 shares during the last quarter. Wellington Management Group LLP grew its position in shares of SiriusPoint by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock worth $175,278,000 after buying an additional 838,262 shares during the last quarter. Donald Smith & CO. Inc. grew its position in shares of SiriusPoint by 12.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after buying an additional 900,209 shares during the last quarter. State Street Corp increased its stake in shares of SiriusPoint by 4.8% during the third quarter. State Street Corp now owns 3,578,129 shares of the company's stock valued at $51,310,000 after buying an additional 162,959 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of SiriusPoint by 9.3% during the fourth quarter. American Century Companies Inc. now owns 2,656,792 shares of the company's stock valued at $43,545,000 after acquiring an additional 226,870 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

Analyst Upgrades and Downgrades

SPNT has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of SiriusPoint in a report on Tuesday. They issued a "hold" rating and a $17.00 price target on the stock. DOWLING & PARTN upgraded shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

Insider Transactions at SiriusPoint

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction 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. The trade was a 30.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.32% of the stock is currently owned by company insiders.

SiriusPoint Stock Up 2.0 %

Shares of SPNT traded up $0.34 on Friday, reaching $16.70. The stock had a trading volume of 634,756 shares, compared to its average volume of 603,043. SiriusPoint Ltd. has a 12-month low of $11.54 and a 12-month high of $17.99. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The company has a 50-day simple moving average of $15.42 and a 200-day simple moving average of $14.85.

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

About SiriusPoint

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.