SiriusPoint (NYSE:SPNT) Downgraded to “Hold” Rating by Zacks Research

SiriusPoint (NYSE:SPNT) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on SPNT. Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.00.

SiriusPoint Stock Down 3.7%

Shares of NYSE SPNT opened at $21.07 on Thursday. The stock has a market capitalization of $2.46 billion, a P/E ratio of 13.25 and a beta of 0.69. SiriusPoint has a one year low of $13.26 and a one year high of $22.89. The firm’s 50 day simple moving average is $20.81 and its two-hundred day simple moving average is $19.46. 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 announced its quarterly earnings data on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. The company had revenue of $755.90 million during the quarter, compared to analysts’ expectations of $738.35 million. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%.

Institutional Investors Weigh In On SiriusPoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in shares of SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock valued at $562,000 after acquiring an additional 576 shares in the last quarter. ProShare Advisors LLC increased its position in SiriusPoint by 2.7% during the 2nd quarter. ProShare Advisors LLC now owns 22,698 shares of the company’s stock valued at $463,000 after purchasing an additional 592 shares during the period. GAMMA Investing LLC raised its holdings in SiriusPoint by 14.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock worth $102,000 after purchasing an additional 639 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of SiriusPoint by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,469 shares of the company’s stock worth $213,000 after purchasing an additional 807 shares during the period. Finally, Boothbay Fund Management LLC boosted its stake in shares of SiriusPoint by 0.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 116,800 shares of the company’s stock valued at $2,113,000 after purchasing an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.