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

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

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

SiriusPoint Stock Up 0.3%

SPNT opened at $22.88 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.68 billion, a P/E ratio of 6.20 and a beta of 0.65. SiriusPoint has a 52 week low of $14.91 and a 52 week high of $23.32. The business’s fifty day simple moving average is $20.91 and its 200 day simple moving average is $20.29.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. The business 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%.

Hedge Funds Weigh In On SiriusPoint

Large investors have recently added to or reduced their stakes in the business. Optima Capital LLC purchased a new position in shares of SiriusPoint in the 4th quarter worth about $41,000. EverSource Wealth Advisors LLC raised 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 worth $43,000 after purchasing an additional 1,377 shares during the period. Caitlin John LLC purchased a new position in shares of SiriusPoint in the 3rd quarter worth about $39,000. Leonteq Securities AG purchased a new position in shares of SiriusPoint in the 4th quarter worth about $136,000. Finally, Torren Management LLC purchased a new position in shares of SiriusPoint in the 4th quarter worth about $143,000. 52.79% of the stock is currently owned by hedge funds and other 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.