SiriusPoint (NYSE:SPNT) Sets New 52-Week High – Still a Buy?

SiriusPoint Ltd. (NYSE:SPNT)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $23.48 and last traded at $23.5670, with a volume of 811218 shares traded. The stock had previously closed at $22.68.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPNT. Zacks Research raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Raymond James Financial began coverage on shares of SiriusPoint in a report on Friday, January 16th. They set a “market perform” rating for the company. B. Riley Financial began coverage on shares of SiriusPoint in a report on Friday. They set a “buy” rating and a $31.00 price target for the company. Weiss Ratings lowered shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, March 19th. Finally, Wall Street Zen lowered shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

SiriusPoint Stock Performance

The stock’s fifty day moving average is $21.26 and its two-hundred day moving average is $20.51. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 6.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. The business had revenue of $973.70 million during the quarter, compared to analyst estimates of $773.00 million. SiriusPoint had a net margin of 14.34% and a return on equity of 15.90%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPNT. Caitlin John LLC acquired a new position in SiriusPoint during the 3rd quarter worth $39,000. Optima Capital LLC acquired a new position in SiriusPoint during the 4th quarter worth $41,000. EverSource Wealth Advisors LLC grew its holdings in SiriusPoint by 187.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after acquiring an additional 1,377 shares in the last quarter. Leonteq Securities AG acquired a new position in SiriusPoint during the 4th quarter worth $136,000. Finally, Torren Management LLC acquired a new position in SiriusPoint during the 4th quarter worth $143,000. 52.79% of the stock is 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.