SiriusPoint (NYSE:SPNT) Hits New 12-Month High - What's Next?

Key Points

• SiriusPoint reached a new 52-week high of $23.73 (last $23.7490) on Friday, with about 104,130 shares trading hands.
• Wall Street consensus rates the stock a Moderate Buy with an average price target of $28.00, and recent coverage includes B. Riley initiating at a $31 target.
• The company posted a strong quarter—EPS $0.70 vs. $0.54 expected and revenue $973.7M vs. $773M expected—and displays solid profitability (ROE 15.9%, net margin 14.34%) with a P/E of 6.44.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $23.73 and last traded at $23.7490, with a volume of 104130 shares changing hands. The stock had previously closed at $23.37.

Wall Street Analysts Forecast Growth

SPNT has been the subject of several recent research reports. B. Riley Financial assumed coverage on SiriusPoint in a report on Friday, April 17th. They set a "buy" rating and a $31.00 price objective for the company. Wall Street Zen downgraded SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 17th. Raymond James Financial started coverage on SiriusPoint in a research note on Friday, January 16th. They set a "market perform" rating for the company. Jefferies Financial Group upgraded SiriusPoint to a "hold" rating in a report on Wednesday, February 4th. Finally, Weiss Ratings cut SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, SiriusPoint has an average rating of "Moderate Buy" and a consensus price target of $28.00.

SiriusPoint Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $2.78 billion, a P/E ratio of 6.44 and a beta of 0.65. The stock's fifty day moving average is $21.57 and its 200-day moving average is $20.69.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.16. The company had revenue of $973.70 million for the quarter, compared to analyst estimates of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%. On average, equities analysts anticipate that SiriusPoint Ltd. will post 2.55 earnings per share for the current year.

Institutional Investors Weigh In On SiriusPoint

A number of large investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC bought a new stake in shares of SiriusPoint during the 4th quarter worth $1,135,000. Exchange Traded Concepts LLC bought a new stake in SiriusPoint in the 3rd quarter valued at $1,934,000. State of New Jersey Common Pension Fund D acquired a new stake in SiriusPoint in the 3rd quarter worth $2,080,000. Public Sector Pension Investment Board increased its holdings in shares of SiriusPoint by 44.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 453,443 shares of the company's stock worth $8,203,000 after purchasing an additional 139,290 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of SiriusPoint by 17.5% during the 3rd quarter. American Century Companies Inc. now owns 5,745,793 shares of the company's stock worth $103,941,000 after purchasing an additional 854,315 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.

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