SiriusPoint (NYSE:SPNT) Coverage Initiated by Analysts at B. Riley Financial

B. Riley Financial assumed coverage on shares of SiriusPoint (NYSE:SPNT) in a research note published on Friday, MarketBeat reports. The firm issued a buy rating and a $31.00 price objective on the stock.

A number of other research firms have also recently issued reports on SPNT. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, March 19th. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Raymond James Financial initiated coverage on SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen lowered SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

SiriusPoint Stock Performance

SPNT opened at $23.30 on Friday. The stock has a market cap of $2.73 billion, a PE ratio of 6.31 and a beta of 0.65. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. SiriusPoint has a 1 year low of $15.90 and a 1 year high of $23.60. The stock’s 50 day simple moving average is $21.31 and its 200-day simple moving average is $20.54.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%.

Institutional Trading of SiriusPoint

Several institutional investors have recently bought and sold shares of SPNT. Goldman Sachs Group Inc. boosted its stake in SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after buying an additional 1,440,836 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of SiriusPoint by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock worth $184,510,000 after purchasing an additional 1,026,284 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of SiriusPoint by 17.5% during the third quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock worth $121,203,000 after purchasing an additional 1,000,000 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of SiriusPoint by 17.5% during the third 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 last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of SiriusPoint by 20.6% during the third quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock worth $78,019,000 after purchasing an additional 736,823 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

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.