Principal Financial Group Inc. Has $8.39 Million Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Principal Financial Group Inc. lessened its stake in SiriusPoint Ltd. (NYSE:SPNT) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 511,845 shares of the company’s stock after selling 4,396 shares during the period. Principal Financial Group Inc. owned about 0.32% of SiriusPoint worth $8,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in SiriusPoint in the fourth quarter valued at $35,000. KBC Group NV grew its position in SiriusPoint by 80.1% during the fourth quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after buying an additional 2,640 shares during the period. SG Americas Securities LLC purchased a new stake in SiriusPoint during the fourth quarter worth about $185,000. Longboard Asset Management LP bought a new stake in SiriusPoint in the fourth quarter worth about $212,000. Finally, ClearAlpha Technologies LP purchased a new position in SiriusPoint in the third quarter valued at about $298,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the completion of the transaction, the director now owns 9,428,008 shares of the company’s stock, valued at approximately $129,257,989.68. The trade was a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.32% of the company’s stock.

SiriusPoint Trading Up 0.9 %

Shares of SPNT stock opened at $15.35 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.49 billion, a P/E ratio of 15.99 and a beta of 0.94. The company has a 50 day moving average of $14.62 and a 200-day moving average of $14.51. SiriusPoint Ltd. has a 12-month low of $11.48 and a 12-month high of $16.50.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) earnings per share 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 net margin of 7.68% and a return on equity of 8.73%.

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.