Franklin Montross Is The Director of SiriusPoint Ltd. (NYSE:SPNT) And They Just Picked Up 42% More Shares

Potential SiriusPoint Ltd. (NYSE:SPNT) shareholders may wish to note that the Director, Franklin Montross, recently bought US$110k worth of stock, paying US$11.04 for each share. That's a very decent purchase to our minds and it grew their holding by a solid 42%.

Check out our latest analysis for SiriusPoint

SiriusPoint Insider Transactions Over The Last Year

In fact, the recent purchase by Franklin Montross was the biggest purchase of SiriusPoint shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was higher than US$10.85 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.

In the last twelve months SiriusPoint insiders were buying shares, but not selling. The average buy price was around US$9.79. These transactions show that insiders have confidence to invest their own money in the stock, albeit at slightly below the recent price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Does SiriusPoint Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that SiriusPoint insiders own 7.3% of the company, worth about US$146m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Do The SiriusPoint Insider Transactions Indicate?

It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest SiriusPoint insiders are well aligned, and quite possibly think the share price is too low. That's what I like to see! While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 1 warning sign for SiriusPoint you should be aware of.

But note: SiriusPoint may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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