SiriusPoint (NYSE:SPNT) Reaches New 1-Year High – Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares hit a new 52-week high during trading on Monday . The stock traded as high as $25.40 and last traded at $24.96, with a volume of 672881 shares traded. The stock had previously closed at $24.90.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. B. Riley Financial assumed coverage on shares of SiriusPoint in a research note on Friday, April 17th. They set a “buy” rating and a $31.00 price objective for the company. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, SiriusPoint has an average rating of “Hold” and an average price target of $31.00.

SiriusPoint Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s 50-day moving average price is $23.25 and its 200-day moving average price is $22.01. The company has a market cap of $2.94 billion, a P/E ratio of 6.20 and a beta of 0.60.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 EPS for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The business had revenue of $774.60 million for the quarter. Equities analysts anticipate that SiriusPoint Ltd. will post 2.57 EPS for the current year.

Institutional Investors Weigh In On SiriusPoint

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in SiriusPoint by 20.1% during the 1st quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock worth $304,000 after acquiring an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SiriusPoint by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company’s stock worth $967,000 after purchasing an additional 2,480 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of SiriusPoint by 223.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock worth $36,079,000 after purchasing an additional 1,440,836 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SiriusPoint by 15.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,874 shares of the company’s stock worth $3,957,000 after purchasing an additional 30,022 shares during the period. Finally, Jane Street Group LLC increased its position in shares of SiriusPoint by 281.2% in the first quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock worth $4,084,000 after purchasing an additional 174,246 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

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.