Jefferies Financial Group Initiates Coverage on SiriusPoint (NYSE:SPNT)

Jefferies Financial Group started coverage on shares of SiriusPoint (NYSE:SPNT - Free Report) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $17.00 target price on the stock.

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

SiriusPoint Trading Up 2.0 %

Shares of NYSE:SPNT traded up $0.34 during trading on Tuesday, hitting $16.70. The company had a trading volume of 634,756 shares, compared to its average volume of 603,533. The stock has a market cap 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 current ratio of 0.57 and a quick ratio of 0.56. The company has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $14.87. SiriusPoint has a one year low of $11.54 and a one year high of $17.99.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $612.80 million for the quarter.

Insider Buying and Selling 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 sale, the director now owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. The trade was a 30.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.32% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPNT. R Squared Ltd purchased a new stake in shares of SiriusPoint during the fourth quarter worth $35,000. Sterling Capital Management LLC grew its stake in SiriusPoint by 742.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after buying an additional 2,392 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of SiriusPoint by 122.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock valued at $53,000 after acquiring an additional 1,779 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after buying an additional 3,240 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after acquiring an additional 2,086 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

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.