SiriusPoint Ltd. (NYSE:SPNT) Given Average Rating of “Hold” by Brokerages

SiriusPoint Ltd. (NYSE:SPNT) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.00.

SPNT has been the subject of several analyst reports. Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. B. Riley Financial began coverage on SiriusPoint in a research note on Friday, April 17th. They issued a “buy” rating and a $31.00 price target on the stock. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

SiriusPoint Trading Down 1.8%

Shares of SPNT opened at $25.83 on Thursday. SiriusPoint has a fifty-two week low of $17.17 and a fifty-two week high of $26.48. The company has a market capitalization of $3.04 billion, a PE ratio of 6.42 and a beta of 0.60. The stock has a fifty day moving average of $23.59 and a two-hundred day moving average of $22.24. 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 Wednesday, July 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $744.10 million for the quarter, compared to analysts’ expectations of $798.95 million. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. As a group, analysts forecast that SiriusPoint will post 2.57 EPS for the current year.

Hedge Funds Weigh In On SiriusPoint

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