Bank of New York Mellon Corp Buys 112,119 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Bank of New York Mellon Corp increased its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 17.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 738,540 shares of the company’s stock after purchasing an additional 112,119 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of SiriusPoint worth $12,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPNT. Edgestream Partners L.P. lifted its holdings in SiriusPoint by 300.9% in the third quarter. Edgestream Partners L.P. now owns 252,699 shares of the company’s stock valued at $3,624,000 after acquiring an additional 189,660 shares during the period. State Street Corp increased its position in shares of SiriusPoint by 4.8% during the 3rd quarter. State Street Corp now owns 3,578,129 shares of the company’s stock valued at $51,310,000 after purchasing an additional 162,959 shares during the last quarter. Barclays PLC increased its holdings in SiriusPoint by 172.7% during the third quarter. Barclays PLC now owns 210,545 shares of the company’s stock valued at $3,018,000 after buying an additional 133,331 shares during the last quarter. Intech Investment Management LLC purchased a new stake in SiriusPoint during the third quarter valued at approximately $1,705,000. Finally, Geode Capital Management LLC raised its position in SiriusPoint by 5.3% in the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after acquiring an additional 115,868 shares during the period. Institutional investors own 52.79% of the company’s stock.

Insiders Place Their Bets

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the firm’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.32% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT opened at $14.48 on Friday. The business has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $14.51. 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 Ltd. has a 52 week low of $11.48 and a 52 week high of $16.50. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 15.08 and a beta of 0.87.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data 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). SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The company had revenue of $612.80 million for the quarter.

Analyst Upgrades and Downgrades

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

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.