D. E. Shaw & Co. Inc. Sells 31,634 Shares of SiriusPoint Ltd. (NYSE:SPNT)

D. E. Shaw & Co. Inc. lessened its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 56.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,746 shares of the company’s stock after selling 31,634 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in SiriusPoint were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Deutsche Bank AG raised its stake in SiriusPoint by 79.7% in the fourth quarter. Deutsche Bank AG now owns 90,819 shares of the company’s stock valued at $1,489,000 after purchasing an additional 40,283 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in SiriusPoint by 0.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,413,385 shares of the company’s stock valued at $23,165,000 after purchasing an additional 10,558 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in SiriusPoint in the fourth quarter valued at about $742,000. BNP Paribas Financial Markets acquired a new position in SiriusPoint in the fourth quarter valued at about $204,000. Finally, Jane Street Group LLC raised its stake in SiriusPoint by 42.7% in the fourth quarter. Jane Street Group LLC now owns 61,976 shares of the company’s stock valued at $1,016,000 after purchasing an additional 18,531 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Price Performance

SPNT stock opened at $19.17 on Tuesday. The company has a 50 day simple moving average of $17.40 and a 200 day simple moving average of $15.74. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 19.97 and a beta of 0.81. SiriusPoint Ltd. has a 1 year low of $11.92 and a 1 year high of $19.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.23. The business had revenue of $727.30 million during the quarter, compared to analysts’ expectations of $688.00 million. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Insider Buying and Selling

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Gueronniere Rafe De sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the director now owns 127,578 shares of the company’s stock, valued at approximately $2,494,149.90. This represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SPNT. Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Jefferies Financial Group began coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price target for the company. Finally, DOWLING & PARTN raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th.

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.