SiriusPoint Ltd. (NYSE:SPNT) Given Consensus Rating of “Buy” by Brokerages

SiriusPoint Ltd. (NYSE:SPNT) has received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $25.00.

A number of research firms have commented on SPNT. Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Zacks Research raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a research report on Monday.

SiriusPoint Price Performance

SPNT stock opened at $21.94 on Wednesday. The stock’s 50 day moving average is $19.82 and its two-hundred day moving average is $19.21. SiriusPoint has a 52-week low of $13.26 and a 52-week high of $22.79. The company has a market capitalization of $2.56 billion, a PE ratio of 13.80 and a beta of 0.68. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.34.

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 company had revenue of $755.90 million during the quarter, compared to analysts’ expectations of $738.35 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of SiriusPoint by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,757,727 shares of the company’s stock valued at $212,697,000 after acquiring an additional 522,532 shares during the last quarter. Wellington Management Group LLP lifted its stake in SiriusPoint by 3.2% during the first quarter. Wellington Management Group LLP now owns 11,035,310 shares of the company’s stock worth $190,801,000 after purchasing an additional 341,096 shares during the last quarter. Capital Research Global Investors boosted its holdings in SiriusPoint by 17.5% in the third quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock worth $121,203,000 after purchasing an additional 1,000,000 shares during the period. American Century Companies Inc. boosted its holdings in SiriusPoint by 17.5% in the third 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, Victory Capital Management Inc. grew its position in shares of SiriusPoint by 20.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock valued at $78,019,000 after buying an additional 736,823 shares during the last quarter. Institutional investors own 52.79% of the company’s stock.

About SiriusPoint

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.