SiriusPoint Ltd. (NYSE:SPNT) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of SiriusPoint Ltd. (NYSE:SPNT – Get Free Report) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.50.

SPNT has been the subject of several research reports. Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a report on Friday, August 7th. Royal Bank Of Canada began coverage on shares of SiriusPoint in a research note on Tuesday. They set an “outperform” rating and a $30.00 target price on the stock.

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Institutional Trading of SiriusPoint

Several large investors have recently bought and sold shares of SPNT. Corient Private Wealth LP grew its holdings in shares of SiriusPoint by 50.8% during the 2nd quarter. Corient Private Wealth LP now owns 16,557 shares of the company’s stock worth $397,000 after acquiring an additional 5,581 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of SiriusPoint in the 2nd quarter valued at approximately $3,065,000. Susquehanna International Group LLP raised its holdings in SiriusPoint by 2.0% in the second quarter. Susquehanna International Group LLP now owns 46,476 shares of the company’s stock worth $1,115,000 after purchasing an additional 895 shares in the last quarter. Wellington Management Group LLP raised its holdings in SiriusPoint by 7.8% in the second quarter. Wellington Management Group LLP now owns 3,342,706 shares of the company’s stock worth $80,225,000 after purchasing an additional 241,648 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in SiriusPoint in the second quarter worth $13,566,000. 52.79% of the stock is owned by institutional investors.

SiriusPoint Price Performance

Shares of SPNT stock opened at $25.80 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. SiriusPoint has a fifty-two week low of $17.39 and a fifty-two week high of $26.50. The firm has a market cap of $3.00 billion, a P/E ratio of 6.29 and a beta of 0.61. The business’s 50 day moving average price is $24.27 and its 200-day moving average price is $23.26.

SiriusPoint (NYSE:SPNT – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. On average, equities research analysts anticipate that SiriusPoint will post 2.57 earnings per share for the current year.

About SiriusPoint

(Get Free Report)

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting capacity and risk-management solutions to businesses, insurers, brokers and managing general agents across a range of specialty markets.

Its business includes property and casualty insurance, property and casualty reinsurance, accident and health coverage, marine and aviation insurance, and other specialty lines. SiriusPoint distributes products through brokers, partnerships and delegated underwriting platforms, with operations and underwriting activities serving clients in the United States, Bermuda, the United Kingdom, Europe and other international markets.

The company was created in 2021 through the combination of Third Point Reinsurance and Sirius International Insurance Group.

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