State of Wyoming Sells 20,310 Shares of SiriusPoint Ltd. $SPNT

State of Wyoming lessened its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 48.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,014 shares of the company’s stock after selling 20,310 shares during the quarter. State of Wyoming’s holdings in SiriusPoint were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SPNT. Wellington Management Group LLP boosted its position in SiriusPoint by 7.8% during the second quarter. Wellington Management Group LLP now owns 3,342,706 shares of the company’s stock worth $80,225,000 after acquiring an additional 241,648 shares during the last quarter. Bank of America Corp DE acquired a new stake in SiriusPoint in the 2nd quarter valued at about $8,721,000. The Manufacturers Life Insurance Company acquired a new stake in SiriusPoint in the 2nd quarter valued at about $988,000. Legal & General Group Plc purchased a new position in SiriusPoint in the 2nd quarter worth approximately $5,763,000. Finally, PDT Partners LLC purchased a new position in SiriusPoint in the 2nd quarter worth approximately $3,400,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Analyst Upgrades and Downgrades

SPNT has been the subject of a number of recent research reports. Royal Bank Of Canada initiated coverage on SiriusPoint in a research note on Tuesday, September 22nd. They issued an “outperform” rating and a $30.00 target price for the company. Weiss Ratings raised shares of SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

SiriusPoint Stock Performance

SiriusPoint stock opened at $26.04 on Tuesday. The firm has a 50 day simple moving average of $24.89 and a 200-day simple moving average of $23.03. SiriusPoint Ltd. has a 1-year low of $18.17 and a 1-year high of $26.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 6.35 and a beta of 0.59.

About SiriusPoint

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting solutions to businesses, insurers and other organizations through a combination of insurance and reinsurance operations.

Its offerings include property and casualty coverage, specialty insurance, accident and health products, and reinsurance. SiriusPoint serves clients through underwriting platforms and subsidiaries in key insurance markets, including Bermuda, the United States, the United Kingdom and other international jurisdictions.