SiriusPoint (NYSE:SPNT) Sets New 52-Week High – Still a Buy?

SiriusPoint Ltd. (NYSE:SPNT)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.83 and last traded at $25.52, with a volume of 44153 shares. The stock had previously closed at $25.35.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial assumed coverage on shares of SiriusPoint in a research note on Friday, April 17th. They set a “buy” rating and a $31.00 price objective on the stock. Weiss Ratings lowered shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Finally, Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

SiriusPoint Price Performance

The company has a 50-day moving average of $23.45 and a two-hundred day moving average of $22.12. The stock has a market capitalization of $3.00 billion, a PE ratio of 6.36 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share (EPS) for the quarter. The firm had revenue of $774.60 million for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. Sell-side analysts predict that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On SiriusPoint

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 worth $265,452,000 after purchasing an additional 368,908 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of SiriusPoint by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after purchasing an additional 1,026,284 shares during the last quarter. Capital Research Global Investors grew its stake 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 valued at $163,036,000 after buying an additional 747,968 shares during the period. State Street Corp grew its stake 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 valued at $94,683,000 after buying an additional 468,060 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of SiriusPoint by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,447,810 shares of the company’s stock worth $53,592,000 after buying an additional 13,305 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

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.