SiriusPoint (NYSE:SPNT) Hits New 52-Week High – Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high on Monday . The stock traded as high as $24.36 and last traded at $24.05, with a volume of 477677 shares traded. The stock had previously closed at $23.85.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPNT shares. Weiss Ratings downgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Wall Street Zen cut SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial began coverage on SiriusPoint in a research report on Friday, April 17th. They set a “buy” rating and a $31.00 target price on the stock. Finally, Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, SiriusPoint presently has a consensus rating of “Hold” and a consensus price target of $31.00.

SiriusPoint Stock Performance

The company has a market cap of $2.83 billion, a P/E ratio of 5.98 and a beta of 0.62. The business’s 50 day simple moving average is $22.92 and its 200 day simple moving average is $21.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. The business 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%. Sell-side analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in SiriusPoint in the 1st quarter worth $292,000. EverSource Wealth Advisors LLC lifted its position in shares of SiriusPoint by 51.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company’s stock valued at $80,000 after acquiring an additional 1,256 shares in the last quarter. Royal Bank of Canada lifted its position in shares of SiriusPoint by 91.8% in the first quarter. Royal Bank of Canada now owns 16,858 shares of the company’s stock valued at $363,000 after acquiring an additional 8,068 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of SiriusPoint by 3.0% in the first quarter. Empowered Funds LLC now owns 549,993 shares of the company’s stock worth $11,847,000 after acquiring an additional 15,976 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of SiriusPoint by 50.7% during the first quarter. Quantinno Capital Management LP now owns 47,025 shares of the company’s stock worth $1,013,000 after purchasing an additional 15,817 shares in the last quarter. 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.