Bank of America Corp DE Sells 142,279 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Bank of America Corp DE trimmed its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 71.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,114 shares of the company’s stock after selling 142,279 shares during the period. Bank of America Corp DE’s holdings in SiriusPoint were worth $952,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of 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 during the period. Farther Finance Advisors LLC raised its stake 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 worth $53,000 after purchasing an additional 3,240 shares during the period. Smartleaf Asset Management LLC increased its holdings in SiriusPoint by 122.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock worth $53,000 after acquiring an additional 1,779 shares during the last quarter. KBC Group NV increased its holdings in SiriusPoint by 80.1% in the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock worth $97,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in SiriusPoint by 25.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company’s stock worth $173,000 after acquiring an additional 2,115 shares during the last quarter. 52.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SPNT. DOWLING & PARTN raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Finally, Jefferies Financial Group began coverage on SiriusPoint in a report on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price objective for the company.

Insider Buying and Selling at SiriusPoint

In other news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the sale, the director now owns 127,578 shares in the company, valued at approximately $2,494,149.90. This trade represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.70% of the company’s stock.

SiriusPoint Stock Up 0.6%

SPNT stock opened at $19.38 on Friday. 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 firm has a market capitalization of $2.26 billion, a PE ratio of 20.19 and a beta of 0.86. SiriusPoint Ltd. has a twelve month low of $11.92 and a twelve month high of $19.87. The stock has a 50-day simple moving average of $17.91 and a two-hundred day simple moving average of $16.03.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.23. The business had revenue of $727.30 million during 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%.

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.