56,273 Shares in SiriusPoint Ltd. (NYSE:SPNT) Purchased by Norges Bank

Norges Bank bought a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 56,273 shares of the company's stock, valued at approximately $922,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of SiriusPoint by 172.7% in the third quarter. Barclays PLC now owns 210,545 shares of the company's stock worth $3,018,000 after acquiring an additional 133,331 shares during the period. Principal Financial Group Inc. increased 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 purchasing an additional 7,320 shares in the last quarter. Geode Capital Management LLC raised its holdings in SiriusPoint by 5.3% in the 3rd 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 during the period. Smartleaf Asset Management LLC boosted its position in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in SiriusPoint in the fourth quarter valued at approximately $246,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SPNT shares. Jefferies Financial Group initiated coverage on SiriusPoint in a research report on Tuesday. They set a "hold" rating and a $17.00 target price on the stock. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.

SiriusPoint Price Performance

Shares of NYSE SPNT traded up $0.16 during midday trading on Thursday, hitting $16.52. The stock had a trading volume of 126,329 shares, compared to its average volume of 600,867. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. SiriusPoint Ltd. has a 1 year low of $11.54 and a 1 year high of $17.99. The company has a market capitalization of $2.68 billion, a PE ratio of 17.20 and a beta of 0.72. The stock has a 50 day simple moving average of $15.37 and a 200-day simple moving average of $14.83.

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

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 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 in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.32% of the stock is owned by insiders.

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.