SiriusPoint (NYSE:SPNT) Sees Strong Trading Volume - Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) shares 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 Stock 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 market capitalization of $2.49 billion, a price-to-earnings ratio of 15.99 and a beta of 0.94. The firm's fifty day moving average is $14.62 and its 200 day moving average is $14.51.

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

Insider Buying and Selling

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the transaction, the director now owns 9,428,008 shares of the company's stock, valued at approximately $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiriusPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in SiriusPoint by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock valued at $180,878,000 after acquiring an additional 144,963 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of SiriusPoint by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock worth $175,278,000 after buying an additional 838,262 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of SiriusPoint by 12.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after buying an additional 900,209 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SiriusPoint by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company's stock worth $124,018,000 after buying an additional 252,120 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock worth $103,257,000 after buying an additional 950,000 shares during the last quarter. 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.