Donald Smith & CO. Inc. Sells 923,472 Shares of SiriusPoint Ltd. $SPNT

Donald Smith & CO. Inc. lessened its stake in SiriusPoint Ltd. (NYSE:SPNT) by 11.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,852,137 shares of the company’s stock after selling 923,472 shares during the quarter. SiriusPoint accounts for 3.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 10th largest position. Donald Smith & CO. Inc. owned approximately 5.87% of SiriusPoint worth $139,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPNT. USA Financial Formulas purchased a new stake in shares of SiriusPoint during the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after acquiring an additional 1,377 shares during the last quarter. Quarry LP raised its holdings in shares of SiriusPoint by 1,737.6% in the first quarter. Quarry LP now owns 3,473 shares of the company’s stock worth $60,000 after acquiring an additional 3,284 shares during the last quarter. US Bancorp DE purchased a new stake in shares of SiriusPoint in the first quarter valued at $65,000. Finally, GAMMA Investing LLC boosted its stake in shares of SiriusPoint by 14.6% during the second quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after acquiring an additional 639 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Trading Down 1.5%

NYSE SPNT opened at $21.50 on Friday. The stock has a market cap of $2.51 billion, a P/E ratio of 13.52 and a beta of 0.68. The company’s fifty day simple moving average is $19.27 and its 200-day simple moving average is $19.08. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.34. SiriusPoint Ltd. has a 52 week low of $13.26 and a 52 week high of $21.84.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%. The business had revenue of $755.90 million during the quarter, compared to analyst estimates of $738.35 million.

Analysts Set New Price Targets

Several brokerages recently weighed in on SPNT. Zacks Research raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b+)” rating on shares of SiriusPoint in a report on Monday, December 1st. Finally, Wall Street Zen raised shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average 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.