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

Key Points

• SiriusPoint reached a new 52-week high, trading as high as $25.83 and recently changing hands at $25.52, up 0.8%.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and three rate it Hold, resulting in a consensus Hold rating and a $31.00 target price.
• The insurer reported quarterly EPS of $0.70 on $774.6 million in revenue, with a 15.38% net margin and 16.92% return on equity; institutional investors own 52.79% of shares.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $25.83 and last traded at $25.52, with a volume of 44153 shares trading hands. The stock had previously closed at $25.35.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPNT. B. Riley Financial started coverage on shares of SiriusPoint in a research report on Friday, April 17th. They set a "buy" rating and a $31.00 target price on the stock. Wall Street Zen lowered SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings lowered SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, May 11th. Finally, Zacks Research cut SiriusPoint from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.00.

SiriusPoint Trading Up 0.8%

The company has a market cap of $3.00 billion, a price-to-earnings ratio of 6.36 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The business's 50-day simple moving average is $23.45 and its 200-day simple moving average is $22.12.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.70 EPS for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The business had revenue of $774.60 million for the quarter. Research analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiriusPoint

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in shares of SiriusPoint by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company's stock worth $437,000 after acquiring an additional 612 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of SiriusPoint by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company's stock valued at $1,276,000 after acquiring an additional 649 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of SiriusPoint by 50.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company's stock valued at $54,000 after acquiring an additional 823 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of SiriusPoint by 5.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company's stock valued at $372,000 after acquiring an additional 873 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in SiriusPoint by 7.2% during the 4th quarter. Natixis Advisors LLC now owns 13,592 shares of the company's stock worth $298,000 after purchasing an additional 916 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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