SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $21.03 and last traded at $20.85, with a volume of 1103483 shares trading hands. The stock had previously closed at $19.36.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SPNT. Oppenheimer set a $25.00 price target on SiriusPoint and gave the stock an "outperform" rating in a report on Thursday. Jefferies Financial Group began coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price objective on the stock. Wall Street Zen upgraded SiriusPoint from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.
Check Out Our Latest Stock Report on SPNT
SiriusPoint Trading Up 7.7%
The stock's 50-day moving average price is $18.82 and its 200 day moving average price is $16.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $2.43 billion, a PE ratio of 21.72 and a beta of 0.86.
SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $727.30 million for the quarter, compared to the consensus estimate of $688.00 million.
Insider Activity
In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the sale, the director now owns 127,578 shares in the company, valued at $2,494,149.90. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.70% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of SiriusPoint by 4,246.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock valued at $47,397,000 after buying an additional 2,678,214 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the last quarter. American Century Companies Inc. boosted its stake in SiriusPoint by 42.6% in the first quarter. American Century Companies Inc. now owns 3,789,579 shares of the company's stock valued at $65,522,000 after acquiring an additional 1,132,787 shares in the last quarter. Capital Research Global Investors grew its holdings in SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock worth $103,257,000 after purchasing an additional 950,000 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its holdings in SiriusPoint by 12.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after purchasing an additional 900,209 shares during the last quarter. 52.79% of the stock is owned by institutional investors.
About SiriusPoint
(
Get Free Report)
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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