SiriusPoint (NYSE:SPNT) Reaches New 12-Month High - Here's Why

Key Points

• SiriusPoint shares hit a new 52-week high on Monday, trading as high as $25.06 and closing around $25.08, up about 1% on the session.
• Analyst sentiment is mixed: recent downgrades from Zacks Research, Weiss Ratings, and Wall Street Zen left the stock with a consensus Hold rating, though B. Riley Financial initiated coverage with a Buy and a $31 price target.
• The company reported solid recent results, including $0.70 EPS and $774.6 million in quarterly revenue, while institutional ownership remains high at 52.79%.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.06 and last traded at $25.08, with a volume of 56154 shares trading hands. The stock had previously closed at $24.65.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Zacks Research cut SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. 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 report on Friday, April 17th. They set a "buy" rating and a $31.00 price target for the company. Finally, Wall Street Zen downgraded SiriusPoint from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, SiriusPoint has an average rating of "Hold" and a consensus target price of $31.00.

SiriusPoint Stock Up 1.0%

The firm's fifty day moving average is $23.11 and its 200-day moving average is $21.93. The company has a market capitalization of $2.93 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 quick ratio of 0.60 and a current ratio of 0.60.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ProShare Advisors LLC grew its position in SiriusPoint by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 19,954 shares of the company's stock worth $437,000 after acquiring an additional 612 shares during the last quarter. State of Alaska Department of Revenue raised its position in SiriusPoint by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company's stock valued at $1,276,000 after purchasing an additional 649 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in SiriusPoint by 50.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company's stock valued at $54,000 after purchasing an additional 823 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of SiriusPoint by 5.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company's stock valued at $372,000 after purchasing an additional 873 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of SiriusPoint by 7.2% during the fourth quarter. Natixis Advisors LLC now owns 13,592 shares of the company's stock valued at $298,000 after purchasing an additional 916 shares in the last quarter. 52.79% of the stock is currently owned by 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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