Zacks Research Upgrades SiriusPoint (NYSE:SPNT) to "Strong-Buy"

Key Points

• Zacks Research upgraded SiriusPoint (SPNT) from a "hold" to a "strong-buy", while the consensus analyst rating is "Buy" with a $25.00 consensus target price.
• SiriusPoint reported a strong quarter, beating estimates with $0.70 EPS vs. $0.54 expected and revenue of $973.7M vs. $773M expected, and shows solid profitability metrics (ROE 15.9%, net margin 14.34%).
• Institutional investors have been adding to positions—most notably Goldman Sachs increased its stake by 223% to 2,086,688 shares—and institutions now own about 52.79% of the company.

SiriusPoint (NYSE:SPNT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on SPNT. Raymond James Financial started coverage on SiriusPoint in a report on Friday, January 16th. They issued a "market perform" rating on the stock. Jefferies Financial Group raised SiriusPoint to a "hold" rating in a report on Wednesday, February 4th. Wall Street Zen lowered SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 17th. Finally, Weiss Ratings lowered SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, SiriusPoint presently has an average rating of "Buy" and a consensus target price of $25.00.

SiriusPoint Trading Up 0.3%

Shares of SPNT stock opened at $22.88 on Monday. The business's fifty day moving average price is $20.91 and its 200 day moving average price is $20.29. SiriusPoint has a 1-year low of $14.91 and a 1-year high of $23.32. The firm has a market capitalization of $2.68 billion, a PE ratio of 6.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $973.70 million for the quarter, compared to analyst estimates of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

Institutional Trading of SiriusPoint

A number of large investors have recently made changes to their positions in SPNT. Royal Bank of Canada boosted its stake in shares of SiriusPoint by 20.1% during the first quarter. Royal Bank of Canada now owns 17,589 shares of the company's stock valued at $304,000 after acquiring an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of SiriusPoint by 223.1% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of SiriusPoint by 15.1% during 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 last quarter. Finally, Jane Street Group LLC boosted its stake in shares of SiriusPoint by 281.2% during the first quarter. Jane Street Group LLC now owns 236,222 shares of the company's stock valued at $4,084,000 after acquiring an additional 174,246 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

SiriusPoint Company Profile

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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