Ameriprise Financial Inc. Trims Stock Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Ameriprise Financial Inc. trimmed its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 265,450 shares of the company’s stock after selling 28,653 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.16% of SiriusPoint worth $4,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC grew its stake in SiriusPoint by 172.7% in the third quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after purchasing an additional 133,331 shares in the last quarter. SG Americas Securities LLC bought a new position in SiriusPoint in the fourth quarter worth approximately $185,000. Exchange Traded Concepts LLC grew its stake in SiriusPoint by 4.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 123,912 shares of the company’s stock worth $2,031,000 after purchasing an additional 5,075 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in SiriusPoint by 8.4% in the fourth quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company’s stock worth $409,000 after purchasing an additional 1,945 shares in the last quarter. Finally, KBC Group NV grew its stake in SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company’s stock worth $97,000 after purchasing an additional 2,640 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SiriusPoint

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $129,257,989.68. This trade represents a 30.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the director now directly owns 127,578 shares in the company, valued at $2,494,149.90. This trade represents a 19.04% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

SiriusPoint Stock Up 0.2%

Shares of NYSE SPNT opened at $19.17 on Monday. 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 stock has a market capitalization of $2.24 billion, a PE ratio of 19.97 and a beta of 0.81. The stock’s fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $15.71. SiriusPoint Ltd. has a 12-month low of $11.92 and a 12-month high of $19.87.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $688.00 million. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPNT. DOWLING & PARTN raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group began coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

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.