SiriusPoint (NYSE:SPNT) Reaches New 12-Month High After Analyst Upgrade

SiriusPoint Ltd. (NYSE:SPNT) hit a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $23.24 and last traded at $23.2130, with a volume of 40372 shares traded. The stock had previously closed at $22.81.

SPNT has been the subject of several other research reports. Raymond James Financial assumed coverage on SiriusPoint in a research report on Friday, January 16th. They issued a “market perform” rating for the company. Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, March 19th. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Finally, Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.00.

Institutional Trading of SiriusPoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in SiriusPoint by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock valued at $265,452,000 after buying an additional 368,908 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in SiriusPoint by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after buying an additional 1,026,284 shares in the last quarter. Capital Research Global Investors raised its position in shares of SiriusPoint by 11.2% during the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after purchasing an additional 747,968 shares during the period. American Century Companies Inc. raised its position in shares of SiriusPoint by 17.5% during the 3rd 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 period. Finally, State Street Corp raised its position in shares of SiriusPoint by 12.1% during the 4th 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 during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Price Performance

The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $20.98 and a two-hundred day moving average price of $20.32. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 6.30 and a beta of 0.65.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.16. The business had revenue of $973.70 million for the quarter, compared to analysts’ expectations of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

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.