SiriusPoint Ltd. (NYSE:SPNT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of SiriusPoint Ltd. (NYSE:SPNT) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.00.

A number of research analysts have issued reports on SPNT shares. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. B. Riley Financial started coverage on SiriusPoint in a research note on Friday, April 17th. They set a “buy” rating and a $31.00 price objective for the company. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock valued at $562,000 after buying an additional 576 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of SiriusPoint by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock worth $437,000 after purchasing an additional 612 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of SiriusPoint by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company’s stock worth $1,276,000 after purchasing an additional 649 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of SiriusPoint by 50.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company’s stock worth $54,000 after purchasing an additional 823 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of SiriusPoint by 5.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company’s stock worth $372,000 after purchasing an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Trading Up 1.7%

SPNT opened at $22.22 on Wednesday. The business has a 50 day moving average of $22.71 and a 200-day moving average of $21.56. The stock has a market cap of $2.61 billion, a PE ratio of 5.53 and a beta of 0.61. SiriusPoint has a 52 week low of $17.17 and a 52 week high of $24.32. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30.

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

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.