Smartleaf Asset Management LLC Increases Stake in SiriusPoint Ltd. (NYSE:SPNT)

Smartleaf Asset Management LLC increased its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 122.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,236 shares of the company’s stock after buying an additional 1,779 shares during the period. Smartleaf Asset Management LLC’s holdings in SiriusPoint were worth $53,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SPNT. R Squared Ltd purchased a new position in SiriusPoint in the fourth quarter valued at about $35,000. KBC Group NV grew its stake in SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after purchasing an additional 2,640 shares during the last quarter. SG Americas Securities LLC purchased a new position in SiriusPoint in the fourth quarter valued at about $185,000. CIBC Asset Management Inc purchased a new position in SiriusPoint in the fourth quarter valued at about $190,000. Finally, Longboard Asset Management LP purchased a new position in SiriusPoint in the fourth quarter valued at about $212,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Insider Transactions at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the sale, the director now owns 9,428,008 shares in the company, 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 this hyperlink. Insiders own 10.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SiriusPoint Price Performance

SPNT opened at $14.54 on Tuesday. The business’s 50-day moving average is $14.69 and its two-hundred day moving average is $14.51. SiriusPoint Ltd. has a 1 year low of $11.48 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56. The firm has a market capitalization of $2.36 billion, a PE ratio of 15.14 and a beta of 0.87.

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

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.