Millennium Management LLC Makes New $1.97 Million Investment in SiriusPoint Ltd. (NYSE:SPNT)

Millennium Management LLC purchased a new stake in SiriusPoint Ltd. (NYSE:SPNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 120,020 shares of the company’s stock, valued at approximately $1,967,000. Millennium Management LLC owned approximately 0.07% of SiriusPoint as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of SiriusPoint during the fourth quarter worth $35,000. Sterling Capital Management LLC increased its holdings 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 purchasing an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC raised its stake 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 purchasing an additional 1,779 shares during the period. Farther Finance Advisors LLC raised its stake in shares of SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock valued at $53,000 after purchasing an additional 3,240 shares during the period. Finally, KBC Group NV lifted its holdings in shares of SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after purchasing an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DOWLING & PARTN raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Wall Street Zen upgraded SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th. Finally, Jefferies Financial Group started coverage on shares of SiriusPoint in a research note on Tuesday, April 15th. They set a “hold” rating and a $17.00 price target for the company.

Insiders Place Their Bets

In other SiriusPoint news, 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 completion of the sale, the director now owns 127,578 shares in the company, valued at $2,494,149.90. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 11.70% of the company’s stock.

SiriusPoint Trading Up 0.2%

SiriusPoint stock opened at $19.63 on Tuesday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 20.45 and a beta of 0.81. The firm has a 50-day moving average of $17.74 and a 200-day moving average of $15.92. 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 Ltd. has a one year low of $11.92 and a one year high of $19.87.

SiriusPoint (NYSE:SPNT) last released its earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. 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.