SiriusPoint (NYSE:SPNT) Now Covered by Analysts at B. Riley Financial

Key Points

• B. Riley Financial initiated coverage on SiriusPoint with a "buy" rating and a $31 price target, implying about a 36.6% upside from the prior close.
• Analyst consensus from MarketBeat is a "Moderate Buy" with an average target of $28, based on 1 Strong Buy, 3 Buy and 2 Hold ratings.
• SiriusPoint recently beat quarterly expectations with $0.70 EPS (vs. $0.54 est.) and $973.7M revenue (vs. $773M est.), and the stock trades near $22.69 with a market cap around $2.65B and a PE of ~6.2.

Stock analysts at B. Riley Financial began coverage on shares of SiriusPoint (NYSE:SPNT - Get Free Report) in a report released on Friday. The firm set a "buy" rating and a $31.00 price target on the stock. B. Riley Financial's price objective would indicate a potential upside of 36.62% from the stock's previous close.

Several other equities research analysts have also commented on SPNT. Jefferies Financial Group upgraded SiriusPoint to a "hold" rating in a research report on Wednesday, February 4th. Zacks Research upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Weiss Ratings lowered SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, March 19th. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 17th. Finally, Raymond James Financial assumed coverage on SiriusPoint in a report on Friday, January 16th. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, SiriusPoint presently has an average rating of "Moderate Buy" and an average target price of $28.00.

SiriusPoint Stock Performance

Shares of NYSE:SPNT opened at $22.69 on Friday. The firm has a market cap of $2.65 billion, a PE ratio of 6.16 and a beta of 0.65. SiriusPoint has a 12-month low of $15.90 and a 12-month high of $23.42. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The company's 50 day moving average price is $21.26 and its two-hundred day moving average price is $20.51.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.54 by $0.16. The firm had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

Institutional Trading of SiriusPoint

Institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC bought a new stake in SiriusPoint during the 4th quarter valued at $1,135,000. Exchange Traded Concepts LLC bought a new position in shares of SiriusPoint in the third quarter worth $1,934,000. State of New Jersey Common Pension Fund D bought a new stake in shares of SiriusPoint during the 3rd quarter valued at $2,080,000. Public Sector Pension Investment Board raised its stake 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 valued at $8,203,000 after purchasing an additional 139,290 shares during the period. Finally, American Century Companies Inc. boosted its stake in SiriusPoint by 17.5% in 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. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

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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