SiriusPoint Ltd. (NYSE:SPNT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of SiriusPoint Ltd. (NYSE:SPNT) have received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $25.00.

Several equities research analysts have recently commented on SPNT shares. 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 upgraded SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings upgraded SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. Finally, Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in SiriusPoint by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after buying an additional 368,908 shares during the period. Donald Smith & CO. Inc. lifted its position in shares of SiriusPoint by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after acquiring an additional 1,026,284 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of SiriusPoint by 11.2% in the fourth quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after acquiring an additional 747,968 shares during the period. American Century Companies Inc. boosted its stake in shares of SiriusPoint by 17.5% in the third quarter. American Century Companies Inc. now owns 5,745,793 shares of the company’s stock worth $103,941,000 after acquiring an additional 854,315 shares during the period. Finally, State Street Corp grew its position in shares of SiriusPoint by 12.1% during the fourth quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after purchasing an additional 468,060 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Price Performance

Shares of NYSE:SPNT opened at $21.13 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.47 billion, a PE ratio of 5.72 and a beta of 0.66. The firm’s 50 day moving average price is $20.79 and its 200-day moving average price is $19.80. SiriusPoint has a twelve month low of $14.05 and a twelve month high of $22.89.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. SiriusPoint had a net margin of 14.34% and a return on equity of 15.90%. The business had revenue of $973.70 million during the quarter, compared to analysts’ expectations of $773.00 million.

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.