SiriusPoint (NYSE:SPNT) Upgraded by B. Riley to "Strong-Buy" Rating

SiriusPoint (NYSE:SPNT - Get Free Report) was upgraded by stock analysts at B. Riley to a "strong-buy" rating in a note issued to investors on Sunday,Zacks.com reports.

A number of other research firms have also recently weighed in on SPNT. Wall Street Zen cut SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group assumed coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target on the stock. Finally, Oppenheimer set a $25.00 price target on SiriusPoint and gave the company an "outperform" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $25.00.

SiriusPoint Trading Up 0.9%

SiriusPoint stock traded up $0.17 during mid-day trading on Friday, hitting $19.48. The company's stock had a trading volume of 483,881 shares, compared to its average volume of 608,451. SiriusPoint has a 1 year low of $12.78 and a 1 year high of $21.03. The stock's fifty day moving average is $19.39 and its two-hundred day moving average is $16.90. The firm has a market capitalization of $2.27 billion, a PE ratio of 20.11 and a beta of 0.86. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.26 by $0.23. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%. The business had revenue of $727.30 million during the quarter, compared to analyst estimates of $688.00 million.

Insiders Place Their Bets

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the director owned 127,578 shares of the company's stock, valued at approximately $2,494,149.90. The trade was a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.32% of the company's stock.

Institutional Investors Weigh In On SiriusPoint

A number of institutional investors have recently added to or reduced their stakes in SPNT. Principal Financial Group Inc. boosted its stake in shares of SiriusPoint by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock worth $9,163,000 after acquiring an additional 18,114 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after acquiring an additional 2,086 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of SiriusPoint by 67.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock worth $1,033,000 after acquiring an additional 24,074 shares in the last quarter. Northern Trust Corp boosted its stake in shares of SiriusPoint by 9.1% during the 4th quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock worth $17,357,000 after acquiring an additional 88,296 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in SiriusPoint in the 4th quarter valued at approximately $1,967,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

SiriusPoint Company Profile

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.