SiriusPoint (NYSE:SPNT) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of SiriusPoint (NYSE:SPNT) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

SPNT has been the subject of a number of other research reports. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial assumed coverage on shares of SiriusPoint in a research note on Friday, January 16th. They set a “market perform” rating for the company. Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial began coverage on shares of SiriusPoint in a research note on Friday, April 17th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

SiriusPoint Price Performance

SPNT stock opened at $22.84 on Monday. The company’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $21.12. The firm has a market cap of $2.68 billion, a P/E ratio of 5.68 and a beta of 0.66. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. SiriusPoint has a 12 month low of $17.17 and a 12 month high of $24.00.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $774.60 million during the quarter, compared to the consensus estimate of $857.58 million. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. On average, analysts anticipate that SiriusPoint will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiriusPoint

A number of hedge funds have recently bought and sold shares of the company. Caitlin John LLC purchased a new position in SiriusPoint in the third quarter valued at about $39,000. Optima Capital LLC bought a new stake in shares of SiriusPoint in the 4th quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in shares of SiriusPoint by 187.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after purchasing an additional 1,377 shares during the period. Leonteq Securities AG purchased a new position in SiriusPoint in the fourth quarter valued at approximately $136,000. Finally, Torren Management LLC purchased a new position in SiriusPoint in the fourth quarter valued at approximately $143,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Company Profile

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.