Norges Bank Makes New Investment in SiriusPoint Ltd. (NYSE:SPNT)

Norges Bank bought a new stake in SiriusPoint Ltd. (NYSE:SPNT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 56,273 shares of the company’s stock, valued at approximately $922,000.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of SiriusPoint during the fourth quarter valued at about $35,000. Smartleaf Asset Management LLC increased 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 purchasing an additional 1,779 shares during the last quarter. Farther Finance Advisors LLC increased its position in SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock worth $53,000 after buying an additional 3,240 shares during the last quarter. KBC Group NV increased its holdings in SiriusPoint by 80.1% in the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock worth $97,000 after acquiring an additional 2,640 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of SiriusPoint in the fourth quarter worth about $185,000. Institutional investors and hedge funds own 52.79% of the company’s stock.

Insider Buying and Selling

In other 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 of the company’s stock, valued at approximately $129,257,989.68. This represents a 30.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, DOWLING & PARTN raised 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 $16.02 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $15.24 and a 200-day moving average price of $14.80. The company has a market cap of $2.60 billion, a PE ratio of 16.69 and a beta of 0.72. SiriusPoint Ltd. has a 12-month low of $11.49 and a 12-month high of $17.99.

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 analysts’ consensus estimates of $0.36 by ($0.49). The firm 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%.

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.