Insider Selling: SiriusPoint Ltd. (NYSE:SPNT) Director Sells 4,106,631 Shares of Stock

SiriusPoint Ltd. (NYSE:SPNT) 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 value 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 represents a 30.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

SiriusPoint Price Performance

SPNT stock traded up $0.13 during midday trading on Friday, reaching $15.35. The company had a trading volume of 1,282,379 shares, compared to its average volume of 592,461. The stock has a 50 day moving average price of $14.60 and a 200-day moving average price of $14.50. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 15.99 and a beta of 0.95. 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 Ltd. has a 1-year low of $11.48 and a 1-year high of $16.50.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data 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 net margin of 7.68% and a return on equity of 8.73%. The business had revenue of $612.80 million during the quarter.

Institutional Investors Weigh In On SiriusPoint

A number of hedge funds have recently made changes to their positions in SPNT. Louisiana State Employees Retirement System boosted its position in SiriusPoint by 1.7% in the third quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the company’s stock valued at $675,000 after buying an additional 800 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of SiriusPoint by 2.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 55,588 shares of the company’s stock valued at $797,000 after acquiring an additional 1,537 shares in the last quarter. Principal Financial Group Inc. grew its position in SiriusPoint by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock worth $7,403,000 after acquiring an additional 7,320 shares during the last quarter. Victory Capital Management Inc. grew its position in SiriusPoint by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock worth $823,000 after acquiring an additional 3,177 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in SiriusPoint by 65.4% in the 3rd quarter. Royce & Associates LP now owns 132,883 shares of the company’s stock worth $1,906,000 after purchasing an additional 52,565 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors and hedge funds.

About SiriusPoint

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.