SiriusPoint (NYSE:SPNT) Sees Large Volume Increase – Still a Buy?

Shares of SiriusPoint Ltd. (NYSE:SPNT) saw an uptick in trading volume on Wednesday . 836,751 shares changed hands during 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 has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56. The firm has a 50-day moving average of $14.58 and a 200 day moving average of $14.50. The company has a market capitalization of $2.39 billion, a PE ratio of 15.38 and a beta of 0.95.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.49). SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The firm had revenue of $612.80 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of SiriusPoint by 172.7% during the 3rd quarter. Barclays PLC now owns 210,545 shares of the company’s stock valued at $3,018,000 after purchasing an additional 133,331 shares in the last quarter. Geode Capital Management LLC raised its holdings in SiriusPoint by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock valued at $32,769,000 after buying an additional 115,868 shares during the period. Principal Financial Group Inc. boosted its position in shares of SiriusPoint by 1.4% during the third quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock worth $7,403,000 after buying an additional 7,320 shares during the period. Victory Capital Management Inc. increased its stake in SiriusPoint by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock worth $823,000 after buying an additional 3,177 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in SiriusPoint by 1.7% in the third quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the company’s stock worth $675,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.