SiriusPoint Ltd. (NYSE:SPNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of SiriusPoint Ltd. (NYSE:SPNT) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $28.00.

A number of research analysts recently issued reports on SPNT shares. Raymond James Financial started coverage on shares of SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. B. Riley Financial started 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, Jefferies Financial Group raised shares of SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th.

SiriusPoint Stock Up 1.1%

NYSE SPNT opened at $22.92 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. SiriusPoint has a 1-year low of $17.17 and a 1-year high of $24.00. The company has a 50 day moving average of $22.17 and a 200-day moving average of $21.19. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 5.70 and a beta of 0.66.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $774.60 million during the quarter, compared to the consensus estimate of $857.58 million. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. On average, equities research analysts expect that SiriusPoint will post 2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPNT. Caitlin John LLC bought a new position in SiriusPoint in the third quarter valued at approximately $39,000. Optima Capital LLC bought a new position in SiriusPoint in the fourth quarter valued at approximately $41,000. EverSource Wealth Advisors LLC increased its stake in SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of SiriusPoint during the fourth quarter worth $136,000. Finally, Torren Management LLC bought a new stake in shares of SiriusPoint during the fourth quarter worth $143,000. 52.79% of the stock is owned by 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.