SiriusPoint Ltd. (NYSE:SPNT) Stock Has Average Price Target of $30.50

Shares of SiriusPoint Ltd. (NYSE:SPNT) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $30.50.

A number of research firms have weighed in on SPNT. Weiss Ratings raised SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, October 6th. Royal Bank Of Canada initiated coverage on SiriusPoint in a report on Tuesday, September 22nd. They issued an “outperform” rating and a $30.00 target price for the company.

SiriusPoint Stock Performance

NYSE SPNT opened at $25.27 on Tuesday. The stock has a market cap of $2.94 billion, a P/E ratio of 6.16 and a beta of 0.59. The company’s 50-day simple moving average is $24.44 and its 200 day simple moving average is $23.76. SiriusPoint has a twelve month low of $17.45 and a twelve month high of $26.50. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. As a group, research analysts forecast that SiriusPoint will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of SiriusPoint

Several institutional investors have recently bought and sold shares of SPNT. Contravisory Investment Management Inc. grew its position in SiriusPoint by 25.8% during the 3rd quarter. Contravisory Investment Management Inc. now owns 13,388 shares of the company’s stock worth $325,000 after acquiring an additional 2,745 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SiriusPoint by 73.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,023 shares of the company’s stock valued at $98,000 after purchasing an additional 1,697 shares in the last quarter. Corient Private Wealth LP increased its holdings in SiriusPoint by 50.8% during the 2nd quarter. Corient Private Wealth LP now owns 16,557 shares of the company’s stock valued at $397,000 after purchasing an additional 5,581 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in SiriusPoint during the 2nd quarter valued at $3,065,000. Finally, Susquehanna International Group LLP raised its position in SiriusPoint by 2.0% in the 2nd quarter. Susquehanna International Group LLP now owns 46,476 shares of the company’s stock valued at $1,115,000 after purchasing an additional 895 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

About SiriusPoint

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting capacity to businesses, institutions and insurance companies across a range of specialty markets, with operations and business relationships spanning North America, Europe, Bermuda and other international markets.

Its offerings include property and casualty insurance and reinsurance, as well as specialty lines such as accident and health, marine, energy, environmental, workers’ compensation and other niche commercial risks.