SiriusPoint (NYSE:SPNT) Shares Gap Up – Here’s What Happened

SiriusPoint Ltd. (NYSE:SPNT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $14.20, but opened at $14.59. SiriusPoint shares last traded at $15.64, with a volume of 112,906 shares.

SiriusPoint Stock Up 13.2 %

The firm’s fifty day simple moving average is $14.64 and its 200-day simple moving average is $14.05. The company has a market cap of $2.60 billion, a PE ratio of 10.11 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.26.

Institutional Trading of SiriusPoint

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its stake in SiriusPoint by 1.7% in the 3rd 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. Arizona State Retirement System grew its holdings in shares of SiriusPoint by 3.2% during the second quarter. Arizona State Retirement System now owns 28,513 shares of the company’s stock worth $348,000 after buying an additional 880 shares in the last quarter. Natixis Advisors LLC raised its position in shares of SiriusPoint by 6.6% in the second quarter. Natixis Advisors LLC now owns 17,167 shares of the company’s stock valued at $209,000 after buying an additional 1,059 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of SiriusPoint by 2.8% during the third quarter. State of Alaska Department of Revenue now owns 55,588 shares of the company’s stock valued at $797,000 after buying an additional 1,537 shares during the period. Finally, Sei Investments Co. boosted its position in SiriusPoint by 12.4% during the second quarter. Sei Investments Co. now owns 22,580 shares of the company’s stock worth $275,000 after acquiring an additional 2,489 shares during the last quarter. 52.79% of the stock is currently 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.