SiriusPoint (NYSE:SPNT) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of SiriusPoint (NYSE:SPNT) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $17.00 target price on the stock.

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

SiriusPoint Stock Performance

Shares of SPNT opened at $16.33 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. SiriusPoint has a 12 month low of $11.49 and a 12 month high of $17.99. The company’s fifty day moving average is $15.32 and its 200-day moving average is $14.82. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 17.01 and a beta of 0.72.

SiriusPoint (NYSE:SPNT) last posted its 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). The company 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%.

Insider Buying and Selling

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 9,428,008 shares in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of SiriusPoint by 67.5% in the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company’s stock worth $1,033,000 after acquiring an additional 24,074 shares during the last quarter. GAMMA Investing LLC grew its position in SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company’s stock worth $76,000 after purchasing an additional 2,086 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of SiriusPoint during the 1st quarter worth about $6,869,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SiriusPoint by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,852 shares of the company’s stock valued at $3,259,000 after buying an additional 28,918 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of SiriusPoint by 37.7% in the fourth quarter. ProShare Advisors LLC now owns 28,300 shares of the company’s stock valued at $464,000 after buying an additional 7,750 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

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.