SiriusPoint Ltd. (NYSE:SPNT) Given Average Recommendation of “Hold” by Analysts

Shares of SiriusPoint Ltd. (NYSE:SPNT) have earned an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a research note on Friday, August 7th.

Institutional Investors Weigh In On SiriusPoint

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its stake in shares of SiriusPoint by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company’s stock valued at $437,000 after purchasing an additional 612 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SiriusPoint by 50.6% during 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. Susquehanna International Group LLP increased its stake in shares of SiriusPoint by 2.0% in the second quarter. Susquehanna International Group LLP now owns 46,476 shares of the company’s stock valued at $1,115,000 after buying an additional 895 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of SiriusPoint by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 55,103 shares of the company’s stock valued at $1,187,000 after buying an additional 1,313 shares during the period. Finally, Caitlin John LLC bought a new position in SiriusPoint in the 2nd quarter valued at approximately $52,000. 52.79% of the stock is owned by institutional investors.

SiriusPoint Price Performance

SPNT opened at $24.48 on Friday. The stock has a market cap of $2.84 billion, a P/E ratio of 5.97 and a beta of 0.61. SiriusPoint has a 12 month low of $17.17 and a 12 month high of $26.48. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $24.21 and a 200 day simple moving average of $23.12.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Thursday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. On average, research analysts expect that SiriusPoint will post 2.57 EPS for the current year.

SiriusPoint Company Profile

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting capacity and risk-management solutions to businesses, insurers, brokers and managing general agents across a range of specialty markets.

Its business includes property and casualty insurance, property and casualty reinsurance, accident and health coverage, marine and aviation insurance, and other specialty lines. SiriusPoint distributes products through brokers, partnerships and delegated underwriting platforms, with operations and underwriting activities serving clients in the United States, Bermuda, the United Kingdom, Europe and other international markets.

The company was created in 2021 through the combination of Third Point Reinsurance and Sirius International Insurance Group.