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

SiriusPoint Ltd. (NYSE:SPNT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.06 and last traded at $25.08, with a volume of 56154 shares changing hands. The stock had previously closed at $24.65.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SPNT shares. Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial started coverage on shares of SiriusPoint in a research note on Friday, April 17th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.00.

SiriusPoint Stock Performance

The stock has a fifty day simple moving average of $23.11 and a two-hundred day simple moving average of $21.93. 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 stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 6.20 and a beta of 0.60.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.70 earnings per share (EPS) for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%.The company had revenue of $774.60 million for the quarter. Analysts forecast that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiriusPoint

Several institutional investors have recently added to or reduced their stakes in SPNT. Royal Bank of Canada grew its position in shares of SiriusPoint by 20.1% during the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SiriusPoint by 4.6% during the 1st 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 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 acquiring an additional 1,440,836 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of SiriusPoint by 15.1% during the 1st 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 stake in SiriusPoint by 281.2% during the first quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock worth $4,084,000 after acquiring an additional 174,246 shares in the last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.

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.