SiriusPoint (NYSE:SPNT) Stock Price Down 9.1% – Time to Sell?

SiriusPoint Ltd. (NYSE:SPNT)’s share price fell 9.1% on Thursday . The company traded as low as $23.55 and last traded at $23.4550. Approximately 659,960 shares were traded during trading, a decline of 8% from the average session volume of 717,584 shares. The stock had previously closed at $25.81.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen lowered SiriusPoint from a “buy” rating to a “hold” rating in a research 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 initiated coverage on shares of SiriusPoint in a report 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

SiriusPoint Stock Performance

The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.77 and a beta of 0.60. The company has a 50-day moving average price of $23.60 and a 200-day moving average price of $22.27. The company has a quick ratio of 0.60, a current ratio of 0.58 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Wednesday, July 29th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. SiriusPoint had a return on equity of 16.28% and a net margin of 15.56%.The firm had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. As a group, equities research analysts forecast that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On SiriusPoint

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