SiriusPoint (NYSE:SPNT) Reaches New 52-Week High – What’s Next?

Shares of SiriusPoint Ltd. (NYSE:SPNT) hit a new 52-week high on Tuesday . The stock traded as high as $16.51 and last traded at $16.62, with a volume of 22614 shares. The stock had previously closed at $16.25.

Analyst Upgrades and Downgrades

Separately, DOWLING & PARTN upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th.

SiriusPoint Price Performance

The company has a market capitalization of $2.67 billion, a PE ratio of 17.13 and a beta of 0.87. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average price is $14.67 and its 200-day moving average price is $14.54.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.49). The firm had revenue of $612.80 million for the quarter. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

Insider Activity at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total value of $56,301,911.01. Following the completion of the sale, the director now directly owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. This represents a 30.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SiriusPoint

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in SiriusPoint by 172.7% during the 3rd quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after acquiring an additional 133,331 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of SiriusPoint by 1.4% during the third quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock valued at $7,403,000 after purchasing an additional 7,320 shares during the period. Geode Capital Management LLC lifted its position in shares of SiriusPoint by 5.3% during the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after purchasing an additional 115,868 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in SiriusPoint by 122.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in SiriusPoint by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock worth $823,000 after buying an additional 3,177 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.