SiriusPoint (NYSE:SPNT) Trading Down 3.4% – Here’s Why

SiriusPoint Ltd. (NYSE:SPNT)’s share price dropped 3.4% on Thursday . The company traded as low as $15.82 and last traded at $15.84. Approximately 280,165 shares were traded 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 Performance

The business’s 50-day simple moving average is $14.83 and its 200 day simple moving average is $14.13. The firm has a market cap of $2.54 billion, a P/E ratio of 9.87 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. raised its position in shares of SiriusPoint by 6.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 7,072,135 shares of the company’s stock valued at $86,280,000 after purchasing an additional 438,084 shares during the period. American Century Companies Inc. raised its holdings in SiriusPoint by 18.5% during the second quarter. American Century Companies Inc. now owns 2,093,696 shares of the company’s stock valued at $25,543,000 after acquiring an additional 327,275 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of SiriusPoint by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,711,403 shares of the company’s stock valued at $81,880,000 after acquiring an additional 321,296 shares in the last quarter. Seven Grand Managers LLC bought a new position in shares of SiriusPoint in the third quarter worth about $3,370,000. Finally, AQR Capital Management LLC grew its position in shares of SiriusPoint by 156.2% during the second quarter. AQR Capital Management LLC now owns 333,422 shares of the company’s stock worth $4,068,000 after purchasing an additional 203,288 shares in the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

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.