SiriusPoint (NYSE:SPNT) Raised to “Strong-Buy” at Zacks Research

SiriusPoint (NYSE:SPNT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial initiated coverage on shares of SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, March 19th. Wall Street Zen cut shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $25.00.

SiriusPoint Stock Performance

SPNT traded up $0.47 during trading on Monday, hitting $23.36. The stock had a trading volume of 35,267 shares, compared to its average volume of 641,653. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $2.73 billion, a P/E ratio of 6.33 and a beta of 0.65. The company’s 50-day moving average price is $20.91 and its 200 day moving average price is $20.29. SiriusPoint has a twelve month low of $14.91 and a twelve month high of $23.42.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.16. The company had revenue of $973.70 million for the quarter, compared to analysts’ expectations of $773.00 million. SiriusPoint had a net margin of 14.34% and a return on equity of 15.90%.

Institutional Investors Weigh In On SiriusPoint

Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of SiriusPoint by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock worth $562,000 after purchasing an additional 576 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of SiriusPoint by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock worth $437,000 after buying an additional 612 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of SiriusPoint by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company’s stock worth $1,276,000 after buying an additional 649 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of SiriusPoint by 50.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company’s stock worth $54,000 after buying an additional 823 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of SiriusPoint by 5.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company’s stock worth $372,000 after buying an additional 873 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

About SiriusPoint

SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.

On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.