SiriusPoint Ltd. (NYSE:SPNT) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on SiriusPoint, with three holds and two buys among five covering brokerages. The average 12-month price target is $31.00, compared with the stock’s reported price of $24.48.
• SiriusPoint reported quarterly EPS of $0.67, beating the $0.65 consensus estimate, although revenue of $744.1 million fell short of the $798.95 million forecast. Analysts expect full-year EPS of approximately $2.57.
• Institutional investors own 52.79% of the company, with BlackRock establishing an approximately $271.9 million position and other major investors increasing their holdings.

Shares of SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) have received a consensus rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target 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 report on Friday, August 7th.

SiriusPoint Trading Up 0.0%

SPNT stock opened at $24.48 on Friday. The business has a fifty day moving average price of $24.21 and a 200 day moving average price of $23.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. SiriusPoint has a fifty-two week low of $17.17 and a fifty-two week high of $26.48. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 5.97 and a beta of 0.61.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The business had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. 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 made changes to their positions in SPNT. BlackRock Inc. bought a new position in SiriusPoint in the second quarter valued at approximately $271,853,000. Donald Smith & CO. Inc. raised 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 acquiring an additional 1,026,284 shares during the last quarter. Capital Research Global Investors boosted its position 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 purchasing an additional 747,968 shares during the last quarter. Wellington Management Group LLP boosted its holdings in SiriusPoint by 7.8% during the second quarter. Wellington Management Group LLP now owns 3,342,706 shares of the company's stock worth $80,225,000 after buying an additional 241,648 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new position in SiriusPoint during the second quarter worth about $36,047,000. Institutional investors own 52.79% of the company's stock.

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.

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