SiriusPoint (NYSE:SPNT) Reaches New 12-Month High – Still a Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares reached a new 52-week high on Friday . The stock traded as high as $23.48 and last traded at $23.5670, with a volume of 811218 shares changing hands. The stock had previously closed at $22.68.

Analysts Set New Price Targets

Several research firms recently weighed in on SPNT. Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Zacks Research upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Raymond James Financial began coverage on shares of SiriusPoint in a research report on Friday, January 16th. They set a “market perform” rating for the company. Wall Street Zen lowered shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, B. Riley Financial began coverage on shares of SiriusPoint in a research report on Friday. They set a “buy” rating and a $31.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

SiriusPoint Price Performance

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.73 billion, a P/E ratio of 6.31 and a beta of 0.65. The business’s 50-day simple moving average is $21.31 and its two-hundred day simple moving average is $20.56.

SiriusPoint (NYSE:SPNT) last issued its 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 firm had revenue of $973.70 million during the quarter, compared to analyst estimates of $773.00 million. SiriusPoint had a net margin of 14.34% and a return on equity of 15.90%.

Hedge Funds Weigh In On SiriusPoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock worth $562,000 after purchasing an additional 576 shares during the period. ProShare Advisors LLC boosted its position in SiriusPoint by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock worth $437,000 after purchasing an additional 612 shares during the period. State of Alaska Department of Revenue boosted its position in SiriusPoint by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company’s stock worth $1,276,000 after purchasing an additional 649 shares during the period. EverSource Wealth Advisors LLC boosted its position in SiriusPoint by 50.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company’s stock worth $54,000 after purchasing an additional 823 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in SiriusPoint by 5.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company’s stock worth $372,000 after purchasing an additional 873 shares during the period. Institutional investors 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.