SiriusPoint (NYSE:SPNT) Rating Increased to Strong-Buy at DOWLING & PARTN

SiriusPoint (NYSE:SPNT) was upgraded by equities researchers at DOWLING & PARTN from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

SiriusPoint Stock Down 1.8 %

SPNT opened at $14.61 on Thursday. SiriusPoint has a twelve month low of $11.48 and a twelve month high of $16.50. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $14.69 and a 200 day moving average price of $14.52. The company has a market cap of $2.37 billion, a PE ratio of 15.22 and a beta of 0.87.

SiriusPoint (NYSE:SPNT) last released its quarterly 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). 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 Buying and Selling

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the completion of the sale, the director now owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. This represents a 30.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.32% of the company’s stock.

Institutional Trading of SiriusPoint

A number of hedge funds have recently bought and sold shares of SPNT. R Squared Ltd acquired a new stake in SiriusPoint in the 4th quarter valued at about $35,000. Sterling Capital Management LLC raised its holdings in SiriusPoint by 742.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock valued at $44,000 after acquiring an additional 2,392 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in SiriusPoint by 122.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after acquiring an additional 1,779 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock valued at $53,000 after acquiring an additional 3,240 shares during the last quarter. Finally, KBC Group NV raised its holdings in SiriusPoint by 80.1% in 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 last quarter. Institutional investors and hedge funds own 52.79% of the company’s 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.