SiriusPoint’s (SPNT) “Buy (B)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their buy (b) rating on shares of SiriusPoint (NYSE:SPNT) in a research note published on Friday morning,Weiss Ratings reports.

SPNT has been the subject of a number of other reports. Oppenheimer set a $25.00 price target on SiriusPoint and gave the stock an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th. Finally, B. Riley began coverage on shares of SiriusPoint in a research note on Monday, July 21st. They issued a “buy” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, SiriusPoint currently has an average rating of “Buy” and a consensus target price of $25.00.

SiriusPoint Trading Down 0.0%

Shares of NYSE:SPNT opened at $18.37 on Friday. The firm has a fifty day moving average of $18.34 and a two-hundred day moving average of $18.60. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint has a 12-month low of $12.78 and a 12-month high of $21.03. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.64 and a beta of 0.76.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%. The business had revenue of $948.20 million for the quarter, compared to the consensus estimate of $720.10 million.

Institutional Investors Weigh In On SiriusPoint

A number of large investors have recently added to or reduced their stakes in SPNT. Wellington Management Group LLP raised its position in shares of SiriusPoint by 3.2% in the first quarter. Wellington Management Group LLP now owns 11,035,310 shares of the company’s stock valued at $190,801,000 after purchasing an additional 341,096 shares during the period. American Century Companies Inc. grew its stake in SiriusPoint by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,891,478 shares of the company’s stock valued at $99,737,000 after buying an additional 1,101,899 shares during the last quarter. Private Management Group Inc. raised its holdings in SiriusPoint by 0.5% in the 1st quarter. Private Management Group Inc. now owns 4,388,596 shares of the company’s stock worth $75,879,000 after acquiring an additional 20,573 shares during the period. State Street Corp lifted its position in SiriusPoint by 2.5% during the 2nd quarter. State Street Corp now owns 3,656,146 shares of the company’s stock worth $74,549,000 after acquiring an additional 89,472 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in SiriusPoint by 4,246.7% during the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock valued at $47,397,000 after acquiring an additional 2,678,214 shares during the period. Institutional investors own 52.79% of the company’s stock.

About SiriusPoint

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.