SiriusPoint (NYSE:SPNT) Reaches New 1-Year High – Still a Buy?

Shares of SiriusPoint Ltd. (NYSE:SPNT) reached a new 52-week high on Tuesday . The company traded as high as $22.89 and last traded at $22.77, with a volume of 56697 shares. The stock had previously closed at $22.63.

Analysts Set New Price Targets

SPNT has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday, December 15th. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.00.

SiriusPoint Stock Up 0.3%

The firm has a market capitalization of $2.65 billion, a P/E ratio of 14.28 and a beta of 0.68. The firm’s fifty day moving average price is $20.11 and its 200-day moving average price is $19.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57.

SiriusPoint (NYSE:SPNT) last released its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.The firm had revenue of $755.90 million during the quarter, compared to the consensus estimate of $738.35 million.

Institutional Investors Weigh In On SiriusPoint

Hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in shares of SiriusPoint in the 2nd quarter worth approximately $27,000. Caitlin John LLC bought a new stake in SiriusPoint in the third quarter valued at $39,000. EverSource Wealth Advisors LLC raised its stake in SiriusPoint by 187.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after acquiring an additional 1,377 shares in the last quarter. Quarry LP lifted its holdings in shares of SiriusPoint by 1,737.6% during the first quarter. Quarry LP now owns 3,473 shares of the company’s stock valued at $60,000 after acquiring an additional 3,284 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of SiriusPoint by 14.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after purchasing an additional 639 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors.

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.