SiriusPoint Ltd. (NYSE:SPNT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in SiriusPoint Ltd. (NYSE:SPNT) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,096 shares of the company’s stock after selling 1,215 shares during the quarter. New York State Teachers Retirement System’s holdings in SiriusPoint were worth $676,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mariner LLC boosted its stake in SiriusPoint by 6.3% during the 4th quarter. Mariner LLC now owns 20,792 shares of the company’s stock worth $341,000 after purchasing an additional 1,230 shares during the last quarter. Bank of Montreal Can grew its position in shares of SiriusPoint by 8.4% in the fourth quarter. Bank of Montreal Can now owns 18,013 shares of the company’s stock valued at $295,000 after purchasing an additional 1,393 shares in the last quarter. GAMMA Investing LLC boosted its stake in SiriusPoint by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company’s stock worth $76,000 after buying an additional 2,086 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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. Finally, Sterling Capital Management LLC grew its holdings in shares of SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock valued at $44,000 after purchasing an additional 2,392 shares during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Stock Performance

NYSE:SPNT opened at $18.45 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 19.22 and a beta of 0.86. The company has a fifty day simple moving average of $19.42 and a two-hundred day simple moving average of $16.72. SiriusPoint Ltd. has a 52 week low of $12.23 and a 52 week high of $21.03. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36.

SiriusPoint (NYSE:SPNT) last released its earnings results on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.23. SiriusPoint had a net margin of 6.30% and a return on equity of 7.78%. The firm had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SPNT shares. Wall Street Zen lowered shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 27th. Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the stock an “outperform” rating in a research note on Thursday, June 26th. Finally, Jefferies Financial Group initiated coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a “hold” rating and a $17.00 target price on the stock.

Insider Buying and Selling

In other SiriusPoint 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 directly owned 127,578 shares of the company’s stock, valued at $2,494,149.90. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.70% of the stock is owned by company insiders.

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.