SiriusPoint Ltd. (SPNT) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is moderately positive: Six brokerages rate SiriusPoint “Moderate Buy” on average, with two buys, one strong buy and three holds. The average 12-month price target is $30.50 versus the stock’s $25.55 price.
• SiriusPoint recently exceeded earnings expectations: The company reported quarterly EPS of $0.67, beating the $0.65 consensus estimate, though revenue of $744.1 million fell short of the $798.95 million forecast.
• Institutional ownership has increased: Major investors including BlackRock and Donald Smith & Co. established significant positions during the second quarter, and institutions now own 52.79% of the stock.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.50.

Several analysts have issued reports on SPNT shares. Weiss Ratings raised shares of SiriusPoint from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, October 6th. Royal Bank Of Canada assumed coverage on shares of SiriusPoint in a research note on Tuesday, September 22nd. They issued an "outperform" rating and a $30.00 price target for the company.

SiriusPoint Stock Up 2.4%

NYSE:SPNT opened at $25.55 on Tuesday. SiriusPoint has a twelve month low of $17.39 and a twelve month high of $26.50. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 6.23 and a beta of 0.59. 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 stock's 50 day moving average price is $24.26 and its two-hundred day moving average price is $23.62.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. The company had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. Equities research analysts expect that SiriusPoint will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiriusPoint

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in SiriusPoint during the second quarter worth approximately $271,853,000. Donald Smith & CO. Inc. bought a new stake in shares of SiriusPoint during the second quarter worth approximately $147,941,000. Punch & Associates Investment Management Inc. bought a new stake in shares of SiriusPoint during the second quarter worth approximately $36,047,000. Bank of New York Mellon Corp bought a new stake in shares of SiriusPoint during the second quarter worth approximately $16,774,000. Finally, Empowered Funds LLC acquired a new position in shares of SiriusPoint in the second quarter valued at approximately $13,566,000. 52.79% of the stock is owned by institutional investors.

About SiriusPoint

SiriusPoint Ltd. NYSE: SPNT is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting capacity to businesses, institutions and insurance companies across a range of specialty markets, with operations and business relationships spanning North America, Europe, Bermuda and other international markets.

Its offerings include property and casualty insurance and reinsurance, as well as specialty lines such as accident and health, marine, energy, environmental, workers' compensation and other niche commercial risks.

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