SiriusPoint (NYSE:SPNT) Stock Rating Lowered by Zacks Research

SiriusPoint (NYSE:SPNT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on SPNT. B. Riley Financial began coverage on SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target for the company. Raymond James Financial started coverage on SiriusPoint in a report on Friday, January 16th. They issued a “market perform” rating for the company. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Finally, Wall Street Zen downgraded SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SiriusPoint has an average rating of “Moderate Buy” and an average target price of $28.00.

SiriusPoint Price Performance

Shares of NYSE SPNT opened at $22.84 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $2.68 billion, a PE ratio of 5.68 and a beta of 0.66. The business has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $21.12. SiriusPoint has a fifty-two week low of $17.17 and a fifty-two week high of $24.00.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $774.60 million during the quarter, compared to the consensus estimate of $857.58 million. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. As a group, equities analysts expect that SiriusPoint will post 2.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SiriusPoint

A number of institutional investors and hedge funds have recently modified their holdings of SPNT. Royal Bank of Canada lifted its holdings in SiriusPoint by 20.1% in the first quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock valued at $304,000 after acquiring an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SiriusPoint by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company’s stock valued at $967,000 after acquiring an additional 2,480 shares during the period. Goldman Sachs Group Inc. lifted its holdings in SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 valued at $3,957,000 after acquiring an additional 30,022 shares during the period. Finally, Jane Street Group LLC lifted its holdings in SiriusPoint by 281.2% in the first quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock valued at $4,084,000 after acquiring an additional 174,246 shares during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

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.