SiriusPoint (NYSE:SPNT) Rating Increased to Strong-Buy at Wall Street Zen

SiriusPoint (NYSE:SPNT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group assumed coverage on SiriusPoint in a research report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 target price on the stock. DOWLING & PARTN upgraded SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th.

SiriusPoint Trading Up 3.1%

SiriusPoint stock traded up $0.60 during mid-day trading on Friday, reaching $19.78. 543,865 shares of the company traded hands, compared to its average volume of 621,344. SiriusPoint has a 52-week low of $11.92 and a 52-week high of $19.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56. The firm's 50 day moving average price is $17.40 and its 200 day moving average price is $15.74. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 20.60 and a beta of 0.81.

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

Insider Activity at SiriusPoint

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the director now owns 127,578 shares in the company, valued at approximately $2,494,149.90. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel S. Loeb sold 4,106,631 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the completion of the sale, the director now directly owns 9,428,008 shares of the company's stock, valued at $129,257,989.68. The trade was a 30.34% decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in SiriusPoint by 4,246.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock worth $47,397,000 after buying an additional 2,678,214 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of SiriusPoint by 223.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after buying an additional 1,440,836 shares in the last quarter. American Century Companies Inc. raised its position in shares of SiriusPoint by 42.6% during the 1st quarter. American Century Companies Inc. now owns 3,789,579 shares of the company's stock worth $65,522,000 after purchasing an additional 1,132,787 shares during the last quarter. Capital Research Global Investors lifted its position in shares of SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock valued at $103,257,000 after acquiring an additional 950,000 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its holdings in shares of SiriusPoint by 12.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after buying an additional 900,209 shares in the last quarter. 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.