SiriusPoint (NYSE:SPNT) Hits New 1-Year High – What’s Next?

Shares of SiriusPoint Ltd. (NYSE:SPNT) hit a new 52-week high on Monday . The company traded as high as $24.00 and last traded at $23.7580, with a volume of 98553 shares trading hands. The stock had previously closed at $23.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SPNT shares. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Wall Street Zen cut SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. B. Riley Financial started coverage on SiriusPoint in a research report on Friday, April 17th. They set a “buy” rating and a $31.00 price target for the company. Finally, Weiss Ratings upgraded SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $28.00.

SiriusPoint Stock Performance

The firm has a 50-day moving average of $21.97 and a two-hundred day moving average of $21.01. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.69 billion, a PE ratio of 5.72 and a beta of 0.66.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $774.60 million for 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%. Research analysts anticipate that SiriusPoint Ltd. will post 2.55 EPS for the current year.

Hedge Funds Weigh In On SiriusPoint

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in SiriusPoint by 3.1% during 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. boosted its position in SiriusPoint by 13.9% during 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 boosted its position in SiriusPoint by 11.2% during 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. boosted its position in SiriusPoint by 17.5% during 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 boosted its position in SiriusPoint by 12.1% during 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. 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.