Victory Capital Management Inc. Acquires 5,646 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Victory Capital Management Inc. boosted its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,066 shares of the company’s stock after acquiring an additional 5,646 shares during the quarter. Victory Capital Management Inc.’s holdings in SiriusPoint were worth $1,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted 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 worth $51,310,000 after purchasing an additional 162,959 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SiriusPoint by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after purchasing an additional 115,868 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SiriusPoint by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 883,749 shares of the company’s stock worth $12,673,000 after purchasing an additional 63,186 shares in the last quarter. Hennessy Advisors Inc. boosted 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 worth $12,851,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of SiriusPoint by 17.9% in the 4th quarter. Bank of New York Mellon Corp now owns 738,540 shares of the company’s stock worth $12,105,000 after purchasing an additional 112,119 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the 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 completion of the sale, the director now directly owns 9,428,008 shares in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.32% of the stock is currently owned by company insiders.

SiriusPoint Price Performance

SPNT opened at $15.75 on Friday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 16.40 and a beta of 0.87. SiriusPoint Ltd. has a 12-month low of $11.49 and a 12-month high of $16.50. The stock has a 50-day moving average price of $14.61 and a 200-day moving average price of $14.53. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37.

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

Analyst Ratings Changes

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

SiriusPoint Company 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.