SiriusPoint Ltd. $SPNT Shares Sold by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. cut its stake in SiriusPoint Ltd. (NYSE:SPNT) by 11.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,852,137 shares of the company’s stock after selling 923,472 shares during the period. SiriusPoint comprises 3.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 10th largest position. Donald Smith & CO. Inc. owned 0.06% of SiriusPoint worth $139,715,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SPNT. Goldman Sachs Group Inc. increased its position in shares of SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock worth $36,079,000 after purchasing an additional 1,440,836 shares during the last quarter. American Century Companies Inc. lifted its position in shares of SiriusPoint by 42.6% in the 1st quarter. American Century Companies Inc. now owns 3,789,579 shares of the company’s stock worth $65,522,000 after buying an additional 1,132,787 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new position in SiriusPoint in the first quarter valued at approximately $12,520,000. Atika Capital Management LLC acquired a new position in SiriusPoint during the 1st quarter valued at approximately $7,262,000. Finally, Alyeska Investment Group L.P. bought a new position in SiriusPoint during the 1st quarter worth $7,132,000. 52.79% of the stock is currently owned by institutional investors.

SiriusPoint Price Performance

NYSE:SPNT opened at $21.50 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $19.27 and its 200 day moving average price is $19.08. SiriusPoint Ltd. has a 52-week low of $13.26 and a 52-week high of $21.84. The firm has a market cap of $2.51 billion, a P/E ratio of 13.52 and a beta of 0.68.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%. The firm had revenue of $755.90 million during the quarter, compared to analysts’ expectations of $738.35 million.

Analyst Upgrades and Downgrades

SPNT has been the subject of several analyst reports. Zacks Research raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday, December 1st. Finally, Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.00.

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.