SiriusPoint (NYSE:SPNT) Sets New 1-Year High – Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $24.00 and last traded at $23.9790, with a volume of 42370 shares changing hands. The stock had previously closed at $23.86.

Wall Street Analysts Forecast Growth

SPNT has been the subject of several research reports. Weiss Ratings downgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group raised shares of SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial started coverage on shares of SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, SiriusPoint presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

SiriusPoint Trading Down 0.1%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60. The stock’s fifty day moving average is $22.34 and its 200 day moving average is $21.33. The stock has a market cap of $2.78 billion, a P/E ratio of 5.89 and a beta of 0.66.

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

Institutional Trading of SiriusPoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in SiriusPoint by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after purchasing an additional 368,908 shares during the period. Donald Smith & CO. Inc. raised its position in SiriusPoint by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock worth $184,510,000 after purchasing an additional 1,026,284 shares during the period. Capital Research Global Investors raised its position in SiriusPoint by 11.2% in the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after purchasing an additional 747,968 shares during the period. American Century Companies Inc. raised its position in SiriusPoint by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 5,745,793 shares of the company’s stock worth $103,941,000 after purchasing an additional 854,315 shares during the period. Finally, State Street Corp raised its position in SiriusPoint by 12.1% in the 4th quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after purchasing an additional 468,060 shares during the period. 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.