SiriusPoint (NYSE:SPNT) Hits New 52-Week High - Here's Why

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.51 and last traded at $16.62, with a volume of 22614 shares trading hands. The stock had previously closed at $16.25.

Analysts Set New Price Targets

Separately, 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

The firm's 50-day moving average is $14.83 and its 200-day moving average is $14.61. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.77 billion, a PE ratio of 17.81 and a beta of 0.87.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $612.80 million during 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 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.32% of the company's stock.

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Institutional Trading of SiriusPoint

Several hedge funds have recently added to or reduced their stakes in SPNT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of SiriusPoint by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,852 shares of the company's stock valued at $3,259,000 after buying an additional 28,918 shares during the last quarter. ProShare Advisors LLC grew its position in SiriusPoint by 37.7% during the 4th quarter. ProShare Advisors LLC now owns 28,300 shares of the company's stock worth $464,000 after acquiring an additional 7,750 shares during the last quarter. Millennium Management LLC purchased a new position in SiriusPoint in the 4th quarter worth approximately $1,967,000. Janus Henderson Group PLC lifted its position in SiriusPoint by 116.4% in the fourth quarter. Janus Henderson Group PLC now owns 124,026 shares of the company's stock valued at $2,033,000 after purchasing an additional 66,704 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of SiriusPoint by 79.7% during the fourth quarter. Deutsche Bank AG now owns 90,819 shares of the company's stock valued at $1,489,000 after purchasing an additional 40,283 shares during the period. 52.79% of the stock is owned by institutional investors.

SiriusPoint Company 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.