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

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high on Monday . The company traded as high as $25.83 and last traded at $25.52, with a volume of 44153 shares changing hands. The stock had previously closed at $25.35.

Wall Street Analysts Forecast Growth

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

SiriusPoint Price Performance

The stock has a market capitalization of $3.10 billion, a PE ratio of 6.56 and a beta of 0.60. The stock’s 50 day moving average is $23.54 and its two-hundred day moving average is $22.20. 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 posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.70 earnings per share (EPS) for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%.The company had revenue of $774.60 million for the quarter. On average, equities analysts anticipate that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

Institutional Trading of SiriusPoint

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in SiriusPoint by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock valued at $437,000 after purchasing an additional 612 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of SiriusPoint by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company’s stock worth $1,276,000 after buying an additional 649 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SiriusPoint by 50.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company’s stock worth $54,000 after buying an additional 823 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of SiriusPoint by 5.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company’s stock valued at $372,000 after buying an additional 873 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of SiriusPoint by 7.2% in the fourth quarter. Natixis Advisors LLC now owns 13,592 shares of the company’s stock worth $298,000 after buying an additional 916 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other 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.