SiriusPoint (NYSE:SPNT) Stock Price Down 3.4% – Here’s What Happened

Shares of SiriusPoint Ltd. (NYSE:SPNT) dropped 3.4% during mid-day trading on Thursday . The company traded as low as $15.82 and last traded at $15.84. Approximately 280,165 shares traded hands during trading, a decline of 52% from the average daily volume of 581,573 shares. The stock had previously closed at $16.39.

SiriusPoint Stock Down 5.6 %

The firm has a fifty day moving average price of $14.75 and a 200 day moving average price of $14.10. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 9.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.56 and a current ratio of 0.56.

Institutional Investors Weigh In On SiriusPoint

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of SiriusPoint by 172.7% during the 3rd quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after buying an additional 133,331 shares during the last quarter. Geode Capital Management LLC raised its position in SiriusPoint by 5.3% during the third quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after acquiring an additional 115,868 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of SiriusPoint by 18.5% in the second quarter. American Century Companies Inc. now owns 2,093,696 shares of the company’s stock valued at $25,543,000 after purchasing an additional 327,275 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of SiriusPoint by 1.4% in the third quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock valued at $7,403,000 after purchasing an additional 7,320 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of SiriusPoint by 1,359.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 66,916 shares of the company’s stock worth $816,000 after purchasing an additional 62,331 shares in the last quarter. 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.