Bank of New York Mellon Corp Decreases Stake in SiriusPoint Ltd. (NYSE:SPNT)

Bank of New York Mellon Corp lessened its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,659 shares of the company’s stock after selling 34,881 shares during the quarter. Bank of New York Mellon Corp owned about 0.43% of SiriusPoint worth $12,166,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of SiriusPoint by 3.5% in the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company’s stock valued at $9,163,000 after purchasing an additional 18,114 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of SiriusPoint in the 1st quarter worth $266,000. Assenagon Asset Management S.A. increased its holdings in shares of SiriusPoint by 67.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company’s stock worth $1,033,000 after buying an additional 24,074 shares during the last quarter. GAMMA Investing LLC raised its position in shares of SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company’s stock valued at $76,000 after buying an additional 2,086 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of SiriusPoint in the 1st quarter valued at about $6,869,000. Institutional investors own 52.79% of the company’s stock.

Wall Street Analyst Weigh In

SPNT has been the topic of several analyst reports. Oppenheimer set a $25.00 price objective on SiriusPoint and gave the stock an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen lowered SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th. 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 objective for the company.

Insider Activity

In related news, Director La Gueronniere Rafe De sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the transaction, the director owned 127,578 shares of the company’s stock, valued at $2,494,149.90. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.32% of the company’s stock.

SiriusPoint Stock Down 0.5%

Shares of NYSE SPNT opened at $18.98 on Monday. SiriusPoint Ltd. has a 1 year low of $12.78 and a 1 year high of $21.03. The firm has a 50-day simple moving average of $19.39 and a two-hundred day simple moving average of $16.90. The company has a market cap of $2.21 billion, a P/E ratio of 19.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60.

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

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.