Donald Smith & CO. Inc. Raises Stock Position in SiriusPoint Ltd. (NYSE:SPNT)

Donald Smith & CO. Inc. raised its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,887,887 shares of the company's stock after purchasing an additional 900,209 shares during the quarter. SiriusPoint accounts for approximately 3.1% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 13th biggest holding. Donald Smith & CO. Inc. owned 4.87% of SiriusPoint worth $129,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPNT. ExodusPoint Capital Management LP boosted its holdings in SiriusPoint by 1,946.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 206,606 shares of the company's stock worth $3,386,000 after buying an additional 196,509 shares in the last quarter. Wellington Management Group LLP raised its position in shares of SiriusPoint by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock worth $175,278,000 after acquiring an additional 838,262 shares during the period. Norges Bank purchased a new stake in shares of SiriusPoint during the 4th quarter worth about $922,000. Vanguard Group Inc. grew its position in shares of SiriusPoint by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock valued at $180,878,000 after acquiring an additional 144,963 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of SiriusPoint in the 4th quarter valued at about $377,000. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Price Performance

SiriusPoint stock traded up $0.07 during trading on Tuesday, reaching $15.54. The company had a trading volume of 141,206 shares, compared to its average volume of 687,245. The firm has a market capitalization of $2.52 billion, a PE ratio of 16.18 and a beta of 0.72. The firm's 50-day simple moving average is $15.10 and its 200 day simple moving average is $14.74. 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 1-year low of $11.48 and a 1-year high of $17.99.

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

Analysts Set New Price Targets

Separately, DOWLING & PARTN upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

Insider Buying and Selling at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were 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. This represents a 30.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.32% of the company's stock.

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.