SiriusPoint Ltd. (NYSE:SPNT) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its holdings in SiriusPoint Ltd. (NYSE:SPNT) by 6.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,596,169 shares of the company’s stock after selling 171,370 shares during the period. Invesco Ltd.’s holdings in SiriusPoint were worth $42,551,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Bank of Montreal Can boosted its stake in SiriusPoint by 8.4% in the 4th quarter. Bank of Montreal Can now owns 18,013 shares of the company’s stock worth $295,000 after purchasing an additional 1,393 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of SiriusPoint by 11.3% during the fourth quarter. Wells Fargo & Company MN now owns 96,491 shares of the company’s stock worth $1,581,000 after buying an additional 9,806 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of SiriusPoint by 12.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company’s stock valued at $129,282,000 after buying an additional 900,209 shares during the last quarter. ExodusPoint Capital Management LP increased its position in shares of SiriusPoint by 1,946.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 206,606 shares of the company’s stock valued at $3,386,000 after acquiring an additional 196,509 shares during the period. Finally, Wellington Management Group LLP raised its stake in SiriusPoint by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company’s stock worth $175,278,000 after acquiring an additional 838,262 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Trading Up 0.2 %

NYSE SPNT opened at $16.37 on Thursday. The company has a fifty day moving average of $15.37 and a 200 day moving average of $14.83. The company has a market capitalization of $2.66 billion, a PE ratio of 17.05 and a beta of 0.72. SiriusPoint Ltd. has a 1 year low of $11.54 and a 1 year high of $17.99. 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 posted its earnings results on Tuesday, February 18th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.49). SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%. The company had revenue of $612.80 million for the quarter.

Insider Activity

In other 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 transaction of $56,301,911.01. Following the sale, the director now directly owns 9,428,008 shares in the company, valued at $129,257,989.68. This trade represents a 30.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SPNT. DOWLING & PARTN upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group began coverage on shares of SiriusPoint in a report on Tuesday. They issued a “hold” rating and a $17.00 price target on the stock.

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.