SiriusPoint (NYSE:SPNT) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of SiriusPoint (NYSE:SPNT) in a research note published on Tuesday, MarketBeat reports. The firm issued a hold rating and a $17.00 price objective on the stock.

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

SiriusPoint Trading Up 2.0 %

NYSE:SPNT opened at $16.70 on Tuesday. The company has a market cap of $2.71 billion, a P/E ratio of 17.39 and a beta of 0.72. SiriusPoint 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. The stock’s fifty day moving average price is $15.42 and its two-hundred day moving average price is $14.85.

SiriusPoint (NYSE:SPNT) last issued 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 during the quarter.

Insider Buying and Selling

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the firm’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 value of $56,301,911.01. Following the sale, the director now directly owns 9,428,008 shares of the company’s stock, valued at $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiriusPoint

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in SiriusPoint by 172.7% in the third quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after acquiring an additional 133,331 shares in the last quarter. Principal Financial Group Inc. lifted its stake in SiriusPoint by 1.4% during the third quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock worth $7,403,000 after purchasing an additional 7,320 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SiriusPoint by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after purchasing an additional 115,868 shares in the last quarter. Smartleaf Asset Management LLC increased its position 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 valued at $53,000 after purchasing an additional 1,779 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of SiriusPoint during the 4th quarter valued at about $246,000. Institutional investors 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.