SiriusPoint (NYSE:SPNT) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• SiriusPoint has received a "Buy (B)" rating from Weiss Ratings, indicating a positive outlook for the stock.
• Oppenheimer has set a price target of $25.00 on SiriusPoint, while B. Riley has a more aggressive target of $33.00.
• The company's recent quarterly earnings showed an EPS of $0.66, surpassing estimates and reflecting a strong revenue performance of $948.20 million.

SiriusPoint (NYSE:SPNT - Get Free Report)'s stock had its "buy (b)" rating reiterated by Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other research firms also recently issued reports on SPNT. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, B. Riley began coverage on shares of SiriusPoint in a research note on Monday, July 21st. They set a "buy" rating and a $33.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $25.00.

SiriusPoint Price Performance

SiriusPoint stock opened at $18.37 on Friday. SiriusPoint has a 52-week low of $12.78 and a 52-week high of $21.03. The firm has a fifty day moving average of $18.34 and a 200-day moving average of $18.56. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.64 and a beta of 0.76. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.10. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%. The company had revenue of $948.20 million during the quarter, compared to analyst estimates of $720.10 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of SiriusPoint by 12.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 23,416 shares of the company's stock valued at $424,000 after buying an additional 2,500 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of SiriusPoint by 5.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 57,713 shares of the company's stock valued at $1,043,000 after buying an additional 2,895 shares during the period. SG Americas Securities LLC boosted its holdings in shares of SiriusPoint by 747.4% in the 3rd quarter. SG Americas Securities LLC now owns 99,270 shares of the company's stock valued at $1,796,000 after buying an additional 87,555 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of SiriusPoint by 11.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 47,800 shares of the company's stock valued at $865,000 after buying an additional 4,800 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of SiriusPoint by 1.2% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 135,808 shares of the company's stock valued at $2,457,000 after buying an additional 1,600 shares during the period. 52.79% of the stock is owned by institutional investors and hedge funds.

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.

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