SiriusPoint (NYSE:SPNT) Reaches New 52-Week High – Here’s What Happened

SiriusPoint Ltd. (NYSE:SPNT) reached a new 52-week high on Monday . The company traded as high as $25.06 and last traded at $25.08, with a volume of 56154 shares. The stock had previously closed at $24.65.

Analysts Set New Price Targets

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

SiriusPoint Trading Down 1.7%

The company has a 50 day moving average of $23.18 and a 200-day moving average of $21.96. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 6.16 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60.

SiriusPoint (NYSE:SPNT) last released its earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. The company had revenue of $774.60 million during the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. On average, research analysts anticipate that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPNT. Optima Capital LLC acquired a new stake in SiriusPoint during the 4th quarter worth approximately $41,000. EverSource Wealth Advisors LLC grew its stake in shares of SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after acquiring an additional 1,377 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of SiriusPoint during the fourth quarter worth $136,000. Torren Management LLC purchased a new stake in shares of SiriusPoint during the fourth quarter worth $143,000. Finally, GAMMA Investing LLC raised its stake in shares of SiriusPoint by 46.5% in the fourth quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $162,000 after acquiring an additional 2,352 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

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.