SiriusPoint (NYSE:SPNT) Hits New 52-Week High – Time to Buy?
by Tristan Rich · The Markets DailyShares of SiriusPoint Ltd. (NYSE:SPNT – Get Free Report) reached a new 52-week high on Friday . The company traded as high as $23.73 and last traded at $23.7490, with a volume of 104130 shares. The stock had previously closed at $23.37.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on SPNT shares. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Raymond James Financial started coverage on SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating for the company. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Wall Street Zen downgraded shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SiriusPoint presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.
View Our Latest Analysis on SPNT
SiriusPoint Stock Performance
The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a 50 day moving average price of $21.57 and a two-hundred day moving average price of $20.69. The company has a market capitalization of $2.78 billion, a P/E ratio of 6.44 and a beta of 0.65.
SiriusPoint (NYSE:SPNT – Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.54 by $0.16. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.The business had revenue of $973.70 million for the quarter, compared to analyst estimates of $773.00 million. On average, research analysts expect that SiriusPoint Ltd. will post 2.55 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in SiriusPoint by 223.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after purchasing an additional 1,440,836 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in SiriusPoint by 13.9% in 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 stake in SiriusPoint by 17.5% in the third quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock worth $121,203,000 after purchasing an additional 1,000,000 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of SiriusPoint by 20.6% in the third quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock valued at $78,019,000 after buying an additional 736,823 shares in the last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.
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.