SiriusPoint Ltd. (NYSE:SPNT) is Private Management Group Inc.’s 2nd Largest Position

Private Management Group Inc. cut its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,579,635 shares of the company’s stock after selling 634,672 shares during the quarter. SiriusPoint makes up approximately 2.3% of Private Management Group Inc.’s holdings, making the stock its 2nd biggest position. Private Management Group Inc.’s holdings in SiriusPoint were worth $65,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPNT. CWM LLC lifted its position in shares of SiriusPoint by 84.7% in the second quarter. CWM LLC now owns 2,289 shares of the company’s stock valued at $28,000 after acquiring an additional 1,050 shares in the last quarter. Bayesian Capital Management LP bought a new position in SiriusPoint in the 1st quarter worth approximately $127,000. SG Americas Securities LLC purchased a new stake in SiriusPoint during the 1st quarter valued at approximately $142,000. Summit Global Investments bought a new stake in shares of SiriusPoint during the second quarter valued at approximately $166,000. Finally, ProShare Advisors LLC lifted its holdings in shares of SiriusPoint by 8.8% in the first quarter. ProShare Advisors LLC now owns 14,775 shares of the company’s stock worth $188,000 after buying an additional 1,199 shares in the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Price Performance

SPNT traded up $0.21 during trading on Friday, hitting $13.35. 710,983 shares of the company traded hands, compared to its average volume of 441,064. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.28 billion, a PE ratio of 8.40 and a beta of 0.94. The stock’s 50-day simple moving average is $14.03 and its two-hundred day simple moving average is $13.35. SiriusPoint Ltd. has a 1 year low of $9.43 and a 1 year high of $15.16.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter. The firm had revenue of $743.30 million during the quarter. SiriusPoint had a return on equity of 13.01% and a net margin of 11.94%.

SiriusPoint 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.