Brokerages Set SiriusPoint Ltd. (NYSE:SPNT) Target Price at $28.00

Shares of SiriusPoint Ltd. (NYSE:SPNT) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.00.

A number of brokerages have weighed in on SPNT. Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. B. Riley Financial started coverage on shares of SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 price objective for the company. Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

Institutional Trading of SiriusPoint

Several institutional investors and hedge funds have recently bought and sold shares of SPNT. Caitlin John LLC purchased a new position in SiriusPoint during the 3rd quarter worth $39,000. Optima Capital LLC purchased a new position in shares of SiriusPoint in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC increased its holdings in shares of SiriusPoint by 187.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after purchasing an additional 1,377 shares in the last quarter. Leonteq Securities AG acquired a new stake in SiriusPoint in the 4th quarter valued at about $136,000. Finally, Torren Management LLC acquired a new stake in SiriusPoint in the 4th quarter valued at about $143,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Down 1.1%

Shares of NYSE SPNT opened at $23.43 on Wednesday. The company’s 50-day simple moving average is $22.83 and its 200-day simple moving average is $21.62. SiriusPoint has a 52-week low of $17.17 and a 52-week high of $24.32. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 5.83 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. The firm had revenue of $774.60 million for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. Equities analysts predict that SiriusPoint will post 2.57 EPS for the current fiscal year.

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.