SiriusPoint (NYSE:SPNT) Sees Large Volume Increase – Here’s Why

SiriusPoint Ltd. (NYSE:SPNT) shares saw an uptick in trading volume on Wednesday . 836,751 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 518,313 shares.The stock last traded at $14.88 and had previously closed at $14.59.

SiriusPoint Price Performance

The company’s fifty day moving average is $14.58 and its 200 day moving average is $14.50. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2.39 billion, a PE ratio of 15.38 and a beta of 0.95.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Tuesday, February 18th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter.

Institutional Investors Weigh In On SiriusPoint

A number of institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of SiriusPoint by 1.7% during the third quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the company’s stock valued at $675,000 after purchasing an additional 800 shares during the last quarter. Mariner LLC raised its holdings in SiriusPoint by 6.3% in the 4th quarter. Mariner LLC now owns 20,792 shares of the company’s stock worth $341,000 after acquiring an additional 1,230 shares during the period. Bank of Montreal Can grew its stake in shares of SiriusPoint by 8.4% in the fourth quarter. Bank of Montreal Can now owns 18,013 shares of the company’s stock worth $295,000 after acquiring an additional 1,393 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in SiriusPoint by 2.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 55,588 shares of the company’s stock valued at $797,000 after acquiring an additional 1,537 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in SiriusPoint by 122.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after acquiring an additional 1,779 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

SiriusPoint Company 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.