Balyasny Asset Management L.P. Makes New $742,000 Investment in SiriusPoint Ltd. (NYSE:SPNT)

Balyasny Asset Management L.P. bought a new position in SiriusPoint Ltd. (NYSE:SPNT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 45,283 shares of the company’s stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SPNT. Vanguard Group Inc. lifted its stake in SiriusPoint by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company’s stock valued at $180,878,000 after purchasing an additional 144,963 shares during the last quarter. Wellington Management Group LLP grew its stake in SiriusPoint by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company’s stock worth $175,278,000 after buying an additional 838,262 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in SiriusPoint by 12.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company’s stock worth $129,282,000 after buying an additional 900,209 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SiriusPoint by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company’s stock worth $124,018,000 after buying an additional 252,120 shares during the period. Finally, Capital Research Global Investors boosted its position in SiriusPoint by 17.8% during the 4th quarter. Capital Research Global Investors now owns 6,300,000 shares of the company’s stock valued at $103,257,000 after buying an additional 950,000 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Insider Activity

In other news, Director Daniel S. Loeb sold 4,106,631 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were 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 $129,257,989.68. The trade was a 30.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.70% of the company’s stock.

SiriusPoint Trading Down 1.1%

NYSE:SPNT opened at $19.32 on Thursday. SiriusPoint Ltd. has a 52 week low of $11.92 and a 52 week high of $19.85. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 20.13 and a beta of 0.81. The company’s 50 day moving average price is $16.68 and its 200-day moving average price is $15.39. 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 (NYSE:SPNT) last posted its earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analysts’ expectations of $688.00 million. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Analysts Set New Price Targets

SPNT has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on SiriusPoint in a report on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price objective for the company. DOWLING & PARTN upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th.

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.