SiriusPoint (NYSE:SPNT) Hits New 52-Week High – Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT) reached a new 52-week high during trading on Monday . The stock traded as high as $25.40 and last traded at $24.96, with a volume of 672881 shares traded. The stock had previously closed at $24.90.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SPNT shares. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. B. Riley Financial initiated coverage on SiriusPoint in a research report on Friday, April 17th. They set a “buy” rating and a $31.00 price objective for the company. Weiss Ratings lowered SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

SiriusPoint Stock Down 0.5%

The firm’s fifty day moving average is $23.32 and its two-hundred day moving average is $22.05. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 6.10 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in SiriusPoint by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after purchasing an additional 368,908 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of SiriusPoint by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after purchasing an additional 1,026,284 shares during the period. Capital Research Global Investors raised its stake in shares of SiriusPoint by 11.2% in the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after buying an additional 747,968 shares in the last quarter. State Street Corp raised its stake in shares of SiriusPoint by 12.1% in the 4th quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after buying an additional 468,060 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of SiriusPoint by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,447,810 shares of the company’s stock valued at $53,592,000 after buying an additional 13,305 shares during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

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.