SiriusPoint Ltd. $SPNT Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in SiriusPoint Ltd. (NYSE:SPNT) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,026,064 shares of the company’s stock after selling 32,957 shares during the period. Northern Trust Corp owned approximately 0.88% of SiriusPoint worth $17,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in 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 during the last quarter. Victory Capital Management Inc. raised its position in shares of SiriusPoint by 4,246.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock valued at $47,397,000 after purchasing an additional 2,678,214 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of SiriusPoint by 67.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company’s stock valued at $1,033,000 after buying an additional 24,074 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in shares of SiriusPoint during the first quarter worth approximately $3,792,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Price Performance

SPNT opened at $18.88 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $19.02 and its 200 day moving average price is $17.82. SiriusPoint Ltd. has a fifty-two week low of $12.78 and a fifty-two week high of $21.03. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 21.21 and a beta of 0.85.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The company had revenue of $948.20 million during the quarter, compared to the consensus estimate of $720.10 million. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th. Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Finally, B. Riley initiated coverage on shares of SiriusPoint in a research report on Monday, July 21st. They set a “buy” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.00.

SiriusPoint 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.