SiriusPoint Ltd. (NYSE:SPNT) Stake Raised by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 73.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 227,987 shares of the company's stock after acquiring an additional 96,687 shares during the period. Renaissance Technologies LLC owned about 0.14% of SiriusPoint worth $3,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 in the last quarter. Wellington Management Group LLP increased its holdings in 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 buying an additional 838,262 shares during the last quarter. Donald Smith & CO. Inc. raised its position in SiriusPoint by 12.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock valued at $129,282,000 after acquiring an additional 900,209 shares in the last quarter. American Century Companies Inc. grew its position in SiriusPoint by 9.3% in the fourth quarter. American Century Companies Inc. now owns 2,656,792 shares of the company's stock worth $43,545,000 after acquiring an additional 226,870 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of SiriusPoint by 5.3% during 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 last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Stock Up 2.7 %

NYSE SPNT opened at $16.42 on Wednesday. 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 $2.66 billion, a price-to-earnings ratio of 17.10 and a beta of 0.72. The stock's 50 day moving average is $15.55 and its two-hundred day moving average is $14.91. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly 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). The company had revenue of $612.80 million during the quarter. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Analysts Set New Price Targets

SPNT has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price objective for the company. DOWLING & PARTN upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.

Insider Transactions at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the business'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 transaction, the director now directly owns 9,428,008 shares of the company's stock, valued at $129,257,989.68. The trade was a 30.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.

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