SiriusPoint (NYSE:SPNT) Sets New 52-Week High - Should You Buy?

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $20.00 and last traded at $19.92, with a volume of 174363 shares traded. The stock had previously closed at $19.40.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SPNT shares. Jefferies Financial Group started coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price target on the stock. Wall Street Zen raised SiriusPoint from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Finally, DOWLING & PARTN raised SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

SiriusPoint Trading Up 0.9%

The firm has a market cap of $2.28 billion, a P/E ratio of 20.38 and a beta of 0.86. The company's 50 day moving average is $18.20 and its two-hundred day moving average is $16.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.23. SiriusPoint had a return on equity of 8.73% and a net margin of 7.68%. The business had revenue of $727.30 million during the quarter, compared to analyst estimates of $688.00 million.

Insider Activity at SiriusPoint

In related news, Director La Gueronniere Rafe De sold 30,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were 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 trade represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.70% of the stock is currently owned by insiders.

Institutional Trading of SiriusPoint

Several hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC grew its position in SiriusPoint by 742.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after acquiring an additional 2,392 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company's stock valued at $53,000 after buying an additional 3,240 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in SiriusPoint by 122.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company's stock worth $53,000 after buying an additional 1,779 shares in the last quarter. Quarry LP increased its position in SiriusPoint by 1,737.6% in the 1st quarter. Quarry LP now owns 3,473 shares of the company's stock valued at $60,000 after acquiring an additional 3,284 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of SiriusPoint during the first quarter valued at approximately $65,000. Institutional investors and hedge funds own 52.79% of the company's stock.

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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