SiriusPoint (NYSE:SPNT) Hits New 1-Year High – Still a Buy?

Shares of SiriusPoint Ltd. (NYSE:SPNT) reached a new 52-week high on Tuesday . The company traded as high as $24.00 and last traded at $23.9790, with a volume of 42370 shares changing hands. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

SPNT has been the subject of a number of recent research reports. B. Riley Financial initiated coverage on shares of SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 target price for the company. Weiss Ratings lowered shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Jefferies Financial Group raised shares of SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, SiriusPoint currently has an average rating of “Moderate Buy” and an average target price of $28.00.

SiriusPoint Price Performance

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 firm’s 50 day simple moving average is $22.22 and its 200 day simple moving average is $21.25. The company has a market capitalization of $2.82 billion, a PE ratio of 5.97 and a beta of 0.66.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $774.60 million during the quarter, compared to analyst estimates of $857.58 million. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. As a group, research analysts anticipate that SiriusPoint Ltd. will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SPNT. Arizona State Retirement System lifted its position in shares of SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock worth $562,000 after purchasing an additional 576 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of SiriusPoint by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock worth $437,000 after purchasing an additional 612 shares during the last quarter. State of Alaska Department of Revenue lifted its position 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 purchasing an additional 649 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 823 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of SiriusPoint by 5.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company’s stock worth $372,000 after purchasing an additional 873 shares during the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

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.