SiriusPoint (NYSE:SPNT) Sets New 1-Year High - Time to Buy?

Key Points

• Shares hit a new 52-week high — SiriusPoint traded as high as $23.24 (last $23.21) during mid-day trading and was up about 1.4%, with a market cap around $2.71 billion.
• Earnings and revenue beat — The company reported Q4 EPS of $0.70 versus $0.54 expected and revenue of $973.7M versus $773.0M expected, with a 15.9% return on equity and a 14.34% net margin.
• Analyst stance and valuation — Consensus rating is a "Moderate Buy" with a $25.00 price target; the analyst mix is mixed (1 Strong Buy, 2 Buy, 3 Hold) and the stock trades at a P/E of about 6.27.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.24 and last traded at $23.2130, with a volume of 40372 shares changing hands. The stock had previously closed at $22.81.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPNT. Jefferies Financial Group raised SiriusPoint to a "hold" rating in a report on Wednesday, February 4th. Zacks Research lowered shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 1st. Wall Street Zen lowered shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 17th. Raymond James Financial began coverage on shares of SiriusPoint in a report on Friday, January 16th. They set a "market perform" rating for the company. Finally, Weiss Ratings lowered shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, SiriusPoint currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

SiriusPoint Stock Up 1.4%

The firm has a fifty day moving average price of $20.85 and a 200 day moving average price of $20.26. 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 has a market cap of $2.71 billion, a P/E ratio of 6.27 and a beta of 0.65.

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

Hedge Funds Weigh In On SiriusPoint

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company's stock worth $562,000 after purchasing an additional 576 shares in the last quarter. ProShare Advisors LLC raised its position in shares of SiriusPoint by 3.2% during the fourth 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 shares of SiriusPoint by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company's stock worth $1,276,000 after acquiring an additional 649 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of SiriusPoint by 50.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company's stock worth $54,000 after acquiring an additional 823 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position 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 worth $372,000 after acquiring an additional 873 shares during the last quarter. 52.79% of the stock is currently owned by institutional investors and hedge funds.

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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