Brokerages Set SiriusPoint Ltd. (NYSE:SPNT) Price Target at $31.00

SiriusPoint Ltd. (NYSE:SPNT) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.00.

Several research analysts have weighed in on the company. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. B. Riley Financial started coverage on shares of SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target for the company. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th.

SiriusPoint Trading Down 1.4%

Shares of NYSE:SPNT opened at $23.60 on Thursday. The stock’s 50-day simple moving average is $23.64 and its two-hundred day simple moving average is $22.36. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.76 and a beta of 0.61. SiriusPoint has a 52-week low of $17.17 and a 52-week high of $26.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58.

SiriusPoint (NYSE:SPNT) last announced its earnings results on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $744.10 million during the quarter, compared to analysts’ expectations of $798.95 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. Analysts expect that SiriusPoint will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optima Capital LLC acquired a new stake in shares of SiriusPoint in the 4th quarter worth $41,000. EverSource Wealth Advisors LLC boosted its holdings in shares of SiriusPoint by 187.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG acquired a new stake in SiriusPoint during the 4th quarter worth about $136,000. Torren Management LLC acquired a new stake in SiriusPoint during the fourth quarter worth about $143,000. Finally, Inspire Investing LLC acquired a new stake in shares of SiriusPoint during the 4th quarter worth approximately $185,000. 52.79% of the stock is currently owned by institutional investors.

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.