Charles Schwab Investment Management Inc. Reduces Stock Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Charles Schwab Investment Management Inc. lowered its position in SiriusPoint Ltd. (NYSE:SPNT) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 861,338 shares of the company’s stock after selling 22,411 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.53% of SiriusPoint worth $14,117,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after acquiring an additional 1,779 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of SiriusPoint by 8.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 24,971 shares of the company’s stock valued at $409,000 after acquiring an additional 1,945 shares during the last quarter. R Squared Ltd acquired a new stake in shares of SiriusPoint during the fourth quarter valued at $35,000. KBC Group NV boosted its stake in shares of 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 acquiring an additional 2,640 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of SiriusPoint by 5.9% during the third quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock valued at $823,000 after acquiring an additional 3,177 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Analysts Set New Price Targets

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

SiriusPoint Stock Up 0.8 %

SPNT opened at $15.75 on Friday. The business’s fifty day simple moving average is $14.61 and its 200 day simple moving average is $14.53. 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 $11.49 and a 52 week high of $16.50. The firm has a market cap of $2.55 billion, a P/E ratio of 16.40 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 (EPS) 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 during the quarter.

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 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 trade represents a 30.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.32% of the stock is owned by corporate insiders.

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.