SiriusPoint (NYSE:SPNT) Hits New 52-Week High - Still a Buy?

Key Points

• SiriusPoint hit a new 52-week high, trading as high as $25.40 and last changing hands near $24.96, extending recent momentum in the stock.
• Analyst sentiment is mixed: several firms recently cut ratings, leaving the stock with a Hold consensus and a consensus price target of $31.00.
• The company reported solid recent results, including $0.70 EPS on $774.6 million in revenue, while institutional investors remain active owners of the stock.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $25.40 and last traded at $24.96, with a volume of 672881 shares traded. The stock had previously closed at $24.90.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, May 11th. B. Riley Financial started coverage on SiriusPoint in a research note on Friday, April 17th. They set a "buy" rating and a $31.00 price objective for the company. Zacks Research downgraded SiriusPoint from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.00.

SiriusPoint Trading Up 0.3%

The business's 50-day moving average price is $23.25 and its two-hundred day moving average price is $22.01. The company has a market capitalization of $2.94 billion, a P/E ratio of 6.20 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 EPS for the quarter. The company had revenue of $774.60 million for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. As a group, analysts forecast that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On SiriusPoint

A number of large investors have recently added to or reduced their stakes in SPNT. Optima Capital LLC acquired a new position in shares of SiriusPoint during the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC lifted its stake in SiriusPoint by 187.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company's stock valued at $43,000 after acquiring an additional 1,377 shares in the last quarter. Leonteq Securities AG bought a new stake in SiriusPoint in the 4th quarter valued at approximately $136,000. Torren Management LLC acquired a new position in SiriusPoint during the 4th quarter worth approximately $143,000. Finally, GAMMA Investing LLC boosted its position in SiriusPoint by 46.5% during the 4th quarter. GAMMA Investing LLC now owns 7,413 shares of the company's stock worth $162,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors own 52.79% of the company's stock.

About SiriusPoint

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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