SiriusPoint (NYSE:SPNT) Reaches New 1-Year High – Here’s Why

Shares of SiriusPoint Ltd. (NYSE:SPNT) reached a new 52-week high during trading on Monday . The stock traded as high as $24.63 and last traded at $24.53, with a volume of 181 shares changing hands. The stock had previously closed at $24.63.

Analyst Ratings Changes

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

SiriusPoint Trading Down 0.0%

The business’s 50-day moving average price is $23.02 and its two-hundred day moving average price is $21.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 6.14 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 net margin of 15.38% and a return on equity of 16.92%. The business had revenue of $774.60 million for the quarter. Equities analysts expect that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Horizon Investments LLC acquired a new position in SiriusPoint in the fourth quarter valued at $1,296,000. CWA Asset Management Group LLC purchased a new position in SiriusPoint during the fourth quarter worth about $1,135,000. Vanguard Group Inc. boosted its stake in SiriusPoint by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after buying an additional 368,908 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in SiriusPoint by 35.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 221,447 shares of the company’s stock worth $4,847,000 after buying an additional 57,798 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in SiriusPoint by 17.5% in the 3rd quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock valued at $121,203,000 after buying an additional 1,000,000 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.