Hsbc Holdings PLC Sells 1,465 Shares of SiriusPoint Ltd. (NYSE:SPNT)

Hsbc Holdings PLC cut its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,942 shares of the company’s stock after selling 1,465 shares during the period. Hsbc Holdings PLC’s holdings in SiriusPoint were worth $178,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SPNT. R Squared Ltd purchased a new stake in SiriusPoint in the 4th quarter worth about $35,000. Sterling Capital Management LLC raised its holdings in shares of SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock worth $44,000 after buying an additional 2,392 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of SiriusPoint by 122.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock worth $53,000 after acquiring an additional 1,779 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of SiriusPoint by 14,087.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock worth $53,000 after acquiring an additional 3,240 shares during the last quarter. Finally, KBC Group NV boosted its holdings in SiriusPoint by 80.1% during the 4th 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 period. 52.79% of the stock is currently owned by institutional investors.

SiriusPoint Price Performance

Shares of SPNT stock opened at $19.23 on Monday. The company has a market capitalization of $2.24 billion, a P/E ratio of 20.03 and a beta of 0.81. The company’s 50-day simple moving average is $16.39 and its two-hundred day simple moving average is $15.29. SiriusPoint Ltd. has a one year low of $11.92 and a one year high of $19.74. 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 announced its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.23. The company had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $688.00 million. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%.

Insiders Place Their Bets

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. This trade represents a 30.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SPNT shares. Jefferies Financial Group started coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 target price on the stock. DOWLING & PARTN upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report 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.