SiriusPoint (NYSE:SPNT) Hits New 52-Week High – Still a Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.42 and last traded at $16.39, with a volume of 1472427 shares. The stock had previously closed at $14.20.

SiriusPoint Price Performance

The stock has a market cap of $2.55 billion, a PE ratio of 9.90 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. The company’s fifty day moving average is $14.79 and its 200 day moving average is $14.11.

Hedge Funds Weigh In On SiriusPoint

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC lifted its stake in shares of SiriusPoint by 6.6% during the second quarter. Natixis Advisors LLC now owns 17,167 shares of the company’s stock worth $209,000 after purchasing an additional 1,059 shares in the last quarter. Sei Investments Co. boosted its holdings in SiriusPoint by 12.4% in the 2nd 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 period. ClearAlpha Technologies LP acquired a new stake in SiriusPoint in the third quarter valued at approximately $298,000. Arizona State Retirement System raised its stake 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 valued at $348,000 after purchasing an additional 880 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of SiriusPoint by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 52,382 shares of the company’s stock worth $639,000 after purchasing an additional 11,673 shares in the last quarter. Institutional investors and hedge funds 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.