Charles Schwab Investment Management Inc. Reduces Stock Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Charles Schwab Investment Management Inc. reduced its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 861,338 shares of the company’s stock after selling 22,411 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SiriusPoint were worth $14,117,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SPNT. R Squared Ltd purchased a new stake in shares of SiriusPoint during the 4th quarter valued at about $35,000. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 1,779 shares during the period. KBC Group NV raised its holdings in shares of SiriusPoint by 80.1% during the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after buying an additional 2,640 shares during the period. SG Americas Securities LLC purchased a new stake in shares of SiriusPoint during the 4th quarter valued at about $185,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of SiriusPoint during the 4th quarter valued at about $190,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

SiriusPoint Price Performance

SPNT stock opened at $15.75 on Friday. 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 Ltd. has a 52-week low of $11.49 and a 52-week high of $16.50. The stock’s 50 day moving average is $14.61 and its two-hundred day moving average is $14.53. The company has a market capitalization of $2.55 billion, a PE ratio of 16.40 and a beta of 0.87.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) earnings per share (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 business had revenue of $612.80 million for the quarter.

Insiders Place Their Bets

In other news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint 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 completion of the transaction, the director now owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. This trade represents a 30.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.32% of the stock is owned by company insiders.

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.