SiriusPoint (NYSE:SPNT) Trading Down 9.1% – Time to Sell?

SiriusPoint Ltd. (NYSE:SPNT)’s share price dropped 9.1% on Thursday . The company traded as low as $23.55 and last traded at $23.4550. 659,960 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 717,584 shares. The stock had previously closed at $25.81.

Wall Street Analysts Forecast Growth

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

SiriusPoint Stock Performance

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 stock has a market cap of $2.78 billion, a price-to-earnings ratio of 5.91 and a beta of 0.60. The firm has a fifty day moving average of $23.59 and a 200 day moving average of $22.24.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%. As a group, sell-side analysts forecast that SiriusPoint Ltd. will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPNT. Royal Bank of Canada increased its position in SiriusPoint by 20.1% during the first quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock worth $304,000 after purchasing an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SiriusPoint by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company’s stock valued at $967,000 after purchasing an additional 2,480 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after purchasing an additional 1,440,836 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of SiriusPoint by 15.1% in 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 buying an additional 30,022 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of SiriusPoint by 281.2% in the 1st quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock valued at $4,084,000 after buying an additional 174,246 shares during the period. Institutional investors and hedge funds 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.