SiriusPoint (NYSE:SPNT) Reaches New 12-Month High - Should You Buy?

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) hit 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 Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a research report on Tuesday, April 15th. They set a "hold" rating and a $17.00 price target on the stock. DOWLING & PARTN upgraded shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the company an "outperform" rating in a research report on Thursday.

SiriusPoint Price Performance

The stock has a market cap of $2.38 billion, a P/E ratio of 21.26 and a beta of 0.86. The firm's fifty day moving average price is $18.98 and its 200-day moving average price is $16.48. 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 results on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analysts' expectations of $688.00 million. SiriusPoint had a net margin of 6.30% and a return on equity of 7.78%.

Insiders Place Their Bets

In related news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction on Thursday, May 8th. The shares were 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 in the company, valued at $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.32% of the stock is currently owned by company insiders.

Institutional Trading of SiriusPoint

Several large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in SiriusPoint by 67.5% during the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock valued at $1,033,000 after buying an additional 24,074 shares during the period. Northern Trust Corp lifted its position in SiriusPoint by 9.1% during the fourth quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock valued at $17,357,000 after buying an additional 88,296 shares during the period. Smartleaf Asset Management LLC lifted its position in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock valued at $53,000 after buying an additional 1,779 shares during the period. Millennium Management LLC purchased a new position in SiriusPoint during the fourth quarter valued at $1,967,000. Finally, Jane Street Group LLC lifted its position in SiriusPoint by 42.7% during the fourth quarter. Jane Street Group LLC now owns 61,976 shares of the company's stock valued at $1,016,000 after buying an additional 18,531 shares during the period. Institutional investors own 52.79% of the company's stock.

About SiriusPoint

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.