Thrivent Financial for Lutherans Cuts Stake in SiriusPoint Ltd. (NYSE:SPNT)

Thrivent Financial for Lutherans reduced its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 71,316 shares of the company’s stock after selling 5,181 shares during the period. Thrivent Financial for Lutherans’ holdings in SiriusPoint were worth $1,169,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPNT. Edgestream Partners L.P. lifted its stake in shares of SiriusPoint by 300.9% in the 3rd 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 last quarter. State Street Corp increased its stake in 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 during the period. Barclays PLC lifted its position in SiriusPoint by 172.7% in the third quarter. Barclays PLC now owns 210,545 shares of the company’s stock valued at $3,018,000 after purchasing an additional 133,331 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of SiriusPoint by 5.3% during the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock valued at $32,769,000 after purchasing an additional 115,868 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of SiriusPoint by 17.9% in the fourth 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 during the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Stock Performance

Shares of NYSE:SPNT opened at $17.32 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $14.87 and a 200-day moving average price of $14.64. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 18.04 and a beta of 0.87. SiriusPoint Ltd. has a 12 month low of $11.49 and a 12 month high of $17.62.

SiriusPoint (NYSE:SPNT) last released its quarterly 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 business 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%.

Wall Street Analyst Weigh In

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

Insider Activity at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the transaction, the director now owns 9,428,008 shares in the company, valued at $129,257,989.68. The trade was a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.32% of the stock is owned by corporate insiders.

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.