KLP Kapitalforvaltning AS Purchases New Position in SiriusPoint Ltd. (NYSE:SPNT)

KLP Kapitalforvaltning AS acquired a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,000 shares of the company’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in shares of SiriusPoint by 4.8% in 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 in the last quarter. American Century Companies Inc. raised its stake in SiriusPoint by 9.3% in the fourth quarter. American Century Companies Inc. now owns 2,656,792 shares of the company’s stock worth $43,545,000 after buying an additional 226,870 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 buying an additional 115,868 shares during the period. Charles Schwab Investment Management Inc. boosted its position in SiriusPoint by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 883,749 shares of the company’s stock valued at $12,673,000 after acquiring an additional 63,186 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in shares of SiriusPoint by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 784,105 shares of the company’s stock valued at $12,851,000 after acquiring an additional 50,000 shares during the period. 52.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at SiriusPoint

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the company’s stock in a transaction 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 sale, the director now directly owns 9,428,008 shares of the company’s stock, valued at approximately $129,257,989.68. This represents a 30.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.32% of the stock is owned by insiders.

SiriusPoint Price Performance

Shares of NYSE SPNT opened at $16.06 on Friday. SiriusPoint Ltd. has a fifty-two week low of $11.49 and a fifty-two week high of $17.99. The company has a market cap of $2.61 billion, a PE ratio of 16.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The business has a 50-day simple moving average of $15.08 and a two-hundred day simple moving average of $14.73.

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

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.