SiriusPoint (NYSE:SPNT) Hits New 52-Week High – Still a Buy?

SiriusPoint Ltd. (NYSE:SPNT)’s stock price hit a new 52-week high on Monday . The stock traded as high as $20.00 and last traded at $19.92, with a volume of 174363 shares traded. The stock had previously closed at $19.40.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPNT. DOWLING & PARTN raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group began coverage on shares of SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th.

SiriusPoint Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 20.38 and a beta of 0.86. The company has a 50-day moving average price of $18.20 and a 200-day moving average price of $16.17.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.23. The firm had revenue of $727.30 million during the quarter, compared to analysts’ expectations of $688.00 million. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Insider Buying and Selling

In other SiriusPoint news, Director La Gueronniere Rafe De sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the sale, the director now directly owns 127,578 shares in the company, valued at approximately $2,494,149.90. This trade represents a 19.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in SiriusPoint by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company’s stock valued at $180,878,000 after acquiring an additional 144,963 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of SiriusPoint by 3.2% during the first quarter. Wellington Management Group LLP now owns 11,035,310 shares of the company’s stock worth $190,801,000 after buying an additional 341,096 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of SiriusPoint by 12.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company’s stock worth $129,282,000 after buying an additional 900,209 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in SiriusPoint by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company’s stock valued at $124,018,000 after acquiring an additional 252,120 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company’s stock valued at $103,257,000 after purchasing an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

About SiriusPoint

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.