SiriusPoint (NYSE:SPNT) Hits New 1-Year High – Still a Buy?

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

Analyst Upgrades and Downgrades

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

SiriusPoint Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a fifty day moving average of $22.22 and a two-hundred day moving average of $21.25. The stock has a market capitalization of $2.82 billion, a P/E ratio of 5.97 and a beta of 0.66.

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

Hedge Funds Weigh In On SiriusPoint

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SiriusPoint by 3.1% in the fourth 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 in the last quarter. Donald Smith & CO. Inc. raised its holdings in SiriusPoint by 13.9% in the fourth 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 in the last quarter. Capital Research Global Investors raised its holdings in SiriusPoint by 11.2% in the fourth 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 in the last quarter. American Century Companies Inc. raised 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 in the last quarter. Finally, State Street Corp raised its holdings in SiriusPoint by 12.1% in the fourth 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 in the last quarter. 52.79% of the stock is currently owned by institutional investors.

About SiriusPoint

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.