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

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

Wall Street Analysts Forecast Growth

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

SiriusPoint Price Performance

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 business's fifty day moving average price is $18.49 and its 200-day moving average price is $16.27. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.10 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced 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%.

Insider Activity

In other SiriusPoint 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 transaction of $586,500.00. Following the transaction, the director now directly owns 127,578 shares of the company's stock, valued at $2,494,149.90. The trade was a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.70% of the company's stock.

Institutional Trading of SiriusPoint

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