Analysts Set SiriusPoint Ltd. (NYSE:SPNT) Target Price at $28.00

SiriusPoint Ltd. (NYSE:SPNT) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $28.00.

SPNT has been the subject of a number of recent analyst reports. Zacks Research lowered shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. B. Riley Financial started 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. Weiss Ratings lowered shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th.

SiriusPoint Trading Up 0.2%

Shares of SPNT stock opened at $23.43 on Wednesday. The company’s fifty day simple moving average is $22.83 and its two-hundred day simple moving average is $21.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint has a 1 year low of $17.17 and a 1 year high of $24.32. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.83 and a beta of 0.62.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share (EPS) for the quarter. The business had revenue of $774.60 million for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. As a group, analysts anticipate that SiriusPoint will post 2.57 earnings per share for the current year.

Institutional Trading of SiriusPoint

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in shares of SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of SiriusPoint by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after acquiring an additional 1,026,284 shares during the last quarter. Capital Research Global Investors raised its stake in shares of SiriusPoint by 17.5% during the third quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock valued at $121,203,000 after acquiring an additional 1,000,000 shares during the last quarter. American Century Companies Inc. raised its stake in shares of SiriusPoint by 17.5% during the third quarter. American Century Companies Inc. now owns 5,745,793 shares of the company’s stock valued at $103,941,000 after acquiring an additional 854,315 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of SiriusPoint by 20.6% during the third quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock valued at $78,019,000 after acquiring an additional 736,823 shares during the last quarter. 52.79% of the stock is owned by institutional investors.

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.