SiriusPoint (NYSE:SPNT) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of SiriusPoint (NYSE:SPNT) from a strong-buy rating to a buy rating in a report released on Saturday morning.

A number of other analysts have also weighed in on the stock. Zacks Research lowered shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday, December 29th. Finally, Raymond James Financial initiated coverage on SiriusPoint in a research report on Friday. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SiriusPoint presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

SiriusPoint Stock Down 1.9%

SPNT opened at $20.01 on Friday. The stock’s 50 day moving average price is $21.13 and its 200 day moving average price is $19.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $2.34 billion, a P/E ratio of 12.59 and a beta of 0.69. SiriusPoint has a 12 month low of $13.26 and a 12 month high of $22.89.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. The company had revenue of $755.90 million for the quarter, compared to analyst estimates of $738.35 million. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.

Institutional Trading of SiriusPoint

A number of hedge funds have recently bought and sold shares of SPNT. Arizona State Retirement System increased its position in shares of SiriusPoint by 1.9% in the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock worth $562,000 after acquiring an additional 576 shares in the last quarter. ProShare Advisors LLC grew its position in SiriusPoint by 2.7% during the 2nd quarter. ProShare Advisors LLC now owns 22,698 shares of the company’s stock worth $463,000 after purchasing an additional 592 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SiriusPoint by 14.6% in the second quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after purchasing an additional 639 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of SiriusPoint by 8.4% in the second quarter. Ameritas Investment Partners Inc. now owns 10,469 shares of the company’s stock worth $213,000 after buying an additional 807 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of SiriusPoint by 0.9% in the third quarter. Boothbay Fund Management LLC now owns 116,800 shares of the company’s stock worth $2,113,000 after buying an additional 1,007 shares during the period. 52.79% of the stock is owned by hedge funds and other institutional investors.

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.