SiriusPoint (NYSE:SPNT) Hits New 52-Week High on Analyst Upgrade

SiriusPoint Ltd. (NYSE:SPNT)’s share price hit a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $23.24 and last traded at $23.2130, with a volume of 40372 shares. The stock had previously closed at $22.81.

A number of other research firms also recently weighed in on SPNT. Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, March 19th. Raymond James Financial started coverage on SiriusPoint in a report on Friday, January 16th. They issued a “market perform” rating for the company. Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.00.

Institutional Trading of SiriusPoint

A number of institutional investors have recently bought and sold shares of SPNT. Caitlin John LLC bought a new stake in SiriusPoint during the third quarter valued at $39,000. Optima Capital LLC bought a new stake in SiriusPoint during the fourth quarter valued at $41,000. EverSource Wealth Advisors LLC boosted its position in SiriusPoint by 187.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG bought a new stake in SiriusPoint during the fourth quarter valued at $136,000. Finally, Torren Management LLC bought a new stake in SiriusPoint during the fourth quarter valued at $143,000. Institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Up 1.6%

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 firm has a market cap of $2.72 billion, a P/E ratio of 6.30 and a beta of 0.65. The stock’s 50-day simple moving average is $20.98 and its 200 day simple moving average is $20.32.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.70 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 net margin of 14.34% and a return on equity of 15.90%.

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.