SiriusPoint (NYSE:SPNT) Rating Increased to Strong-Buy at DOWLING & PARTN

DOWLING & PARTN upgraded shares of SiriusPoint (NYSE:SPNT - Free Report) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

SiriusPoint Stock Performance

Shares of NYSE:SPNT traded up $0.34 during mid-day trading on Thursday, reaching $14.86. 902,944 shares of the company traded hands, compared to its average volume of 615,340. The firm has a market cap of $2.41 billion, a PE ratio of 15.47 and a beta of 0.87. SiriusPoint has a 52 week low of $11.48 and a 52 week high of $16.50. The company's 50 day moving average price is $14.69 and its 200-day moving average price is $14.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its 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). 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

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.32% of the stock is currently owned by company insiders.

Remove Ads

Institutional Trading of SiriusPoint

A number of institutional investors and hedge funds have recently bought and sold shares of SPNT. Capital Research Global Investors lifted its position in SiriusPoint by 17.8% during the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock valued at $103,257,000 after purchasing an additional 950,000 shares during the last quarter. Donald Smith & CO. Inc. raised its position in shares of SiriusPoint by 12.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock valued at $129,282,000 after buying an additional 900,209 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 valued at $175,278,000 after acquiring an additional 838,262 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in SiriusPoint by 12.8% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 2,643,704 shares of the company's stock worth $43,330,000 after acquiring an additional 299,114 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in SiriusPoint by 481.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 317,560 shares of the company's stock worth $5,206,000 after acquiring an additional 262,981 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors.

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.