SiriusPoint (NYSE:SPNT) Stock Rating Upgraded by DOWLING & PARTN

SiriusPoint (NYSE:SPNT) was upgraded by analysts at DOWLING & PARTN from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

SiriusPoint Stock Performance

NYSE SPNT opened at $14.31 on Thursday. SiriusPoint has a 12-month low of $11.48 and a 12-month high of $16.50. The firm has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $14.52. The company has a market capitalization of $2.32 billion, a P/E ratio of 14.91 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.49). The company 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 SiriusPoint stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the transaction, the director now directly owns 9,428,008 shares of the company’s stock, valued at $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.32% of the stock is owned by insiders.

Institutional Investors Weigh In On SiriusPoint

A number of large investors have recently modified their holdings of SPNT. Capital Research Global Investors lifted its position in shares of SiriusPoint by 17.8% during the 4th quarter. Capital Research Global Investors now owns 6,300,000 shares of the company’s stock worth $103,257,000 after buying an additional 950,000 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in SiriusPoint by 12.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company’s stock worth $129,282,000 after acquiring an additional 900,209 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of SiriusPoint by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company’s stock worth $175,278,000 after acquiring an additional 838,262 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of SiriusPoint by 12.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,643,704 shares of the company’s stock valued at $43,330,000 after purchasing an additional 299,114 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of SiriusPoint by 481.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 317,560 shares of the company’s stock valued at $5,206,000 after purchasing an additional 262,981 shares during the last quarter. Institutional investors and hedge funds 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.