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

SiriusPoint Ltd. (NYSE:SPNT) shares hit a new 52-week high on Monday . The company traded as high as $24.36 and last traded at $24.05, with a volume of 477677 shares changing hands. The stock had previously closed at $23.85.

Analyst Ratings Changes

A number of analysts have recently commented on SPNT shares. Wall Street Zen lowered SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. B. Riley Financial started coverage on shares of SiriusPoint in a research note on Friday, April 17th. They set a “buy” rating and a $31.00 price target for the company. Finally, Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment 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.com, SiriusPoint currently has an average rating of “Hold” and an average price target of $31.00.

SiriusPoint Price Performance

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.81 billion, a P/E ratio of 5.94 and a beta of 0.61. The company has a 50 day moving average of $22.96 and a 200-day moving average of $21.80.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%.The company had revenue of $774.60 million during the quarter. On average, sell-side analysts predict that SiriusPoint Ltd. will post 2.57 EPS for the current year.

Hedge Funds Weigh In On SiriusPoint

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in SiriusPoint in the first quarter valued at approximately $292,000. EverSource Wealth Advisors LLC increased its stake in shares of SiriusPoint by 51.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company’s stock valued at $80,000 after purchasing an additional 1,256 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of SiriusPoint by 91.8% during the 1st quarter. Royal Bank of Canada now owns 16,858 shares of the company’s stock worth $363,000 after buying an additional 8,068 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SiriusPoint by 3.0% during the 1st quarter. Empowered Funds LLC now owns 549,993 shares of the company’s stock worth $11,847,000 after buying an additional 15,976 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in SiriusPoint by 50.7% in the first quarter. Quantinno Capital Management LP now owns 47,025 shares of the company’s stock valued at $1,013,000 after buying an additional 15,817 shares in the last quarter. 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.