SiriusPoint (NYSE:SPNT) Sets New 52-Week High - Still a Buy?

Key Points

• 52-week high: SiriusPoint shares reached a new 52-week high, trading as high as $23.48 and last at $23.57 on volume of 811,218 shares.
• Quarterly beat: The company reported EPS of $0.70 versus $0.54 expected and revenue of $973.7M versus $773M expected, with a 14.34% net margin and 15.9% ROE.
• Analyst stance: Analysts hold a consensus Moderate Buy with an average target of $28.00 (ratings: 1 Strong Buy, 3 Buy, 2 Hold); the stock trades at a PE of 6.31 and market cap of $2.73B.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $23.48 and last traded at $23.5670, with a volume of 811218 shares changing hands. The stock had previously closed at $22.68.

Wall Street Analyst Weigh In

SPNT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 17th. Weiss Ratings downgraded shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, March 19th. Jefferies Financial Group raised shares of SiriusPoint to a "hold" rating in a research note on Wednesday, February 4th. Raymond James Financial started coverage on shares of SiriusPoint in a research note on Friday, January 16th. They set a "market perform" rating on the stock. Finally, Zacks Research raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, SiriusPoint has a consensus rating of "Moderate Buy" and an average target price of $28.00.

SiriusPoint Stock Performance

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 $2.73 billion, a PE ratio of 6.31 and a beta of 0.65. The stock's 50 day simple moving average is $21.26 and its two-hundred day simple moving average is $20.51.

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

Institutional Investors Weigh In On SiriusPoint

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of SiriusPoint by 56.1% in the first quarter. SG Americas Securities LLC now owns 37,333 shares of the company's stock worth $804,000 after acquiring an additional 13,424 shares in the last quarter. Evolve Private Wealth LLC increased its position in shares of SiriusPoint by 9.9% in the first quarter. Evolve Private Wealth LLC now owns 28,806 shares of the company's stock worth $620,000 after acquiring an additional 2,595 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of SiriusPoint in the fourth quarter worth $232,000. State of Tennessee Department of Treasury increased its position in shares of SiriusPoint by 144.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 51,305 shares of the company's stock worth $1,047,000 after acquiring an additional 30,348 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of SiriusPoint by 4.5% in the fourth quarter. Empowered Funds LLC now owns 534,017 shares of the company's stock worth $11,690,000 after acquiring an additional 22,843 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

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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