SiriusPoint (NYSE:SPNT) Hits New 12-Month High – Should You Buy?

SiriusPoint Ltd. (NYSE:SPNT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.03 and last traded at $21.0890, with a volume of 251243 shares traded. The stock had previously closed at $20.42.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPNT. Weiss Ratings reissued a “buy (b)” rating on shares of SiriusPoint in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $25.00.

SiriusPoint Trading Up 3.6%

The business has a 50-day moving average of $18.68 and a 200 day moving average of $18.97. The stock has a market cap of $2.47 billion, a PE ratio of 13.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.57 and a current ratio of 0.57.

SiriusPoint (NYSE:SPNT) last released its earnings results on Thursday, October 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.51 by $0.21. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.The firm had revenue of $874.40 million during the quarter, compared to analyst estimates of $738.35 million.

Institutional Trading of SiriusPoint

A number of institutional investors have recently modified their holdings of SPNT. Informed Momentum Co LLC purchased a new position in SiriusPoint in the 1st quarter valued at about $3,792,000. Los Angeles Capital Management LLC purchased a new position in shares of SiriusPoint during the 2nd quarter valued at approximately $270,000. Harbor Capital Advisors Inc. increased its stake in shares of SiriusPoint by 11.3% in the second quarter. Harbor Capital Advisors Inc. now owns 441,968 shares of the company’s stock worth $9,012,000 after buying an additional 44,705 shares during the last quarter. Atika Capital Management LLC bought a new stake in shares of SiriusPoint in the 1st quarter worth about $7,262,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in SiriusPoint by 124.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 46,139 shares of the company’s stock valued at $941,000 after buying an additional 25,567 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Company Profile

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.