Geode Capital Management LLC Sells 91,694 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Geode Capital Management LLC lessened its position in SiriusPoint Ltd. (NYSE:SPNT) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,193,032 shares of the company’s stock after selling 91,694 shares during the period. Geode Capital Management LLC owned about 1.35% of SiriusPoint worth $35,952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in 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 in the last quarter. Flagship Harbor Advisors LLC increased its holdings in SiriusPoint by 8.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company’s stock worth $409,000 after buying an additional 1,945 shares in the last quarter. R Squared Ltd bought a new stake in SiriusPoint in the 4th quarter worth about $35,000. KBC Group NV lifted its stake in SiriusPoint by 80.1% during the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after acquiring an additional 2,640 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of SiriusPoint by 14,087.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock valued at $53,000 after acquiring an additional 3,240 shares during the last quarter. Institutional investors own 52.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SPNT. DOWLING & PARTN upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Jefferies Financial Group assumed coverage on SiriusPoint in a research note on Tuesday. They issued a “hold” rating and a $17.00 price target on the stock.

Insider Buying and Selling at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.32% of the stock is currently owned by corporate insiders.

SiriusPoint Stock Performance

SPNT opened at $16.33 on Wednesday. The company’s 50 day moving average is $15.32 and its 200 day moving average is $14.82. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 17.01 and a beta of 0.72. SiriusPoint Ltd. has a 12-month low of $11.49 and a 12-month high of $17.99.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.49). The business had revenue of $612.80 million for the quarter. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

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.