SiriusPoint (NYSE:SPNT) Stock Price Down 9.1% - Time to Sell?

Key Points

• SiriusPoint shares fell 9.1% to about $23.46, with trading volume slightly below average.
• Analyst sentiment has weakened, with multiple firms downgrading the stock to “Hold.” The consensus rating is “Hold,” though the average price target of $31.00 implies potential upside.
• The company beat quarterly EPS expectations, reporting $0.67 versus $0.65 forecast, but revenue of $744.1 million came in below the $798.95 million estimate. Institutional investors own 52.79% of the stock and several major funds increased their positions.

SiriusPoint Ltd. (NYSE:SPNT - Get Free Report)'s stock price was down 9.1% during trading on Thursday . The stock traded as low as $23.55 and last traded at $23.4550. Approximately 659,960 shares changed hands during trading, a decline of 8% from the average session volume of 717,584 shares. The stock had previously closed at $25.81.

Analyst Ratings Changes

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

SiriusPoint Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60. The firm's 50 day simple moving average is $23.59 and its 200 day simple moving average is $22.24. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 5.91 and a beta of 0.60.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. Sell-side analysts forecast that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiriusPoint

A number of institutional investors have recently modified their holdings of SPNT. Royal Bank of Canada boosted its stake in shares of SiriusPoint by 20.1% in the first quarter. Royal Bank of Canada now owns 17,589 shares of the company's stock worth $304,000 after buying an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SiriusPoint by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company's stock valued at $967,000 after acquiring an additional 2,480 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in SiriusPoint by 15.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,874 shares of the company's stock valued at $3,957,000 after acquiring an additional 30,022 shares during the period. Finally, Jane Street Group LLC boosted its position in SiriusPoint by 281.2% in the 1st quarter. Jane Street Group LLC now owns 236,222 shares of the company's stock worth $4,084,000 after purchasing an additional 174,246 shares in the last quarter. Hedge funds and other institutional investors 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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