SiriusPoint (NYSE:SPNT) Rating Lowered to Buy at Wall Street Zen

SiriusPoint (NYSE:SPNT) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial assumed coverage on shares of SiriusPoint in a research report on Friday. They set a “market perform” rating for the company. Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

SiriusPoint Price Performance

NYSE SPNT opened at $20.01 on Friday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 12.59 and a beta of 0.69. SiriusPoint has a 1-year low of $13.26 and a 1-year high of $22.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The business’s fifty day moving average price is $21.13 and its 200-day moving average price is $19.50.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.51 by $0.21. The company had revenue of $755.90 million during the quarter, compared to analyst estimates of $738.35 million. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.

Institutional Trading of SiriusPoint

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of SiriusPoint by 20.1% during the 1st quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock valued at $304,000 after purchasing an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SiriusPoint by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company’s stock worth $967,000 after buying an additional 2,480 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in SiriusPoint by 15.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,874 shares of the company’s stock valued at $3,957,000 after acquiring an additional 30,022 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of SiriusPoint by 281.2% in the first quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock valued at $4,084,000 after acquiring an additional 174,246 shares in the last quarter. 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.