SiriusPoint (NYSE:SPNT) Hits New 1-Year High – What’s Next?

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high during trading on Monday . The stock traded as high as $24.00 and last traded at $23.7580, with a volume of 98553 shares traded. The stock had previously closed at $23.45.

Wall Street Analysts Forecast Growth

SPNT has been the subject of several recent research reports. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. B. Riley Financial initiated coverage on SiriusPoint in a research report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target for the company. Weiss Ratings raised SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, April 24th. Raymond James Financial started coverage on SiriusPoint in a research report on Friday, January 16th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group raised SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SiriusPoint presently has an average rating of “Buy” and an average target price of $28.00.

SiriusPoint Stock Down 2.0%

The company has a 50-day moving average of $21.97 and a 200-day moving average of $21.01. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 5.72 and a beta of 0.66. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Thursday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%.The company had revenue of $774.60 million for the quarter, compared to analyst estimates of $857.58 million. On average, equities analysts predict that SiriusPoint Ltd. will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Precision Wealth Strategies LLC acquired a new position in shares of SiriusPoint in the first quarter valued at about $1,701,000. Bessemer Group Inc. increased its holdings in shares of SiriusPoint by 50.5% in the first quarter. Bessemer Group Inc. now owns 252,246 shares of the company’s stock valued at $5,433,000 after purchasing an additional 84,589 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of SiriusPoint by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 55,103 shares of the company’s stock valued at $1,187,000 after purchasing an additional 1,313 shares during the period. Principal Financial Group Inc. increased its holdings in shares of SiriusPoint by 2.0% in the first quarter. Principal Financial Group Inc. now owns 505,624 shares of the company’s stock valued at $10,891,000 after purchasing an additional 10,012 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of SiriusPoint by 15.2% in the first quarter. Pictet Asset Management Holding SA now owns 17,982 shares of the company’s stock valued at $387,000 after purchasing an additional 2,374 shares during the period. 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.