SiriusPoint (NYSE:SPNT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of SiriusPoint (NYSE:SPNT) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on SPNT. Wall Street Zen lowered SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Raymond James Financial assumed coverage on SiriusPoint in a research report on Friday, January 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings lowered SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.00.

SiriusPoint Price Performance

Shares of SPNT stock opened at $22.88 on Monday. The firm has a market cap of $2.68 billion, a P/E ratio of 6.20 and a beta of 0.65. SiriusPoint has a fifty-two week low of $14.91 and a fifty-two week high of $23.32. The business’s 50 day moving average price is $20.91 and its 200-day moving average price is $20.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.16. The firm had revenue of $973.70 million for the quarter, compared to analyst estimates of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in shares of SiriusPoint in the 3rd quarter valued at approximately $1,934,000. CWA Asset Management Group LLC purchased a new position in shares of SiriusPoint in the 4th quarter valued at approximately $1,135,000. State of New Jersey Common Pension Fund D purchased a new position in shares of SiriusPoint in the 3rd quarter valued at approximately $2,080,000. Public Sector Pension Investment Board lifted its stake in shares of SiriusPoint by 44.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 453,443 shares of the company’s stock valued at $8,203,000 after purchasing an additional 139,290 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of SiriusPoint by 45.0% in the 2nd quarter. Federated Hermes Inc. now owns 600,985 shares of the company’s stock valued at $12,254,000 after purchasing an additional 186,493 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.