SiriusPoint Ltd. (SPNT) – What Are Investment Firms Saying About This Stock?

SiriusPoint Ltd. (NYSE:SPNT) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.50.

Several equities analysts have commented on the company. Weiss Ratings upgraded SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, October 6th. Royal Bank Of Canada assumed coverage on shares of SiriusPoint in a research note on Tuesday, September 22nd. They issued an “outperform” rating and a $30.00 price objective for the company.

SiriusPoint Stock Performance

Shares of NYSE SPNT opened at $25.06 on Tuesday. The business’s 50-day simple moving average is $24.39 and its 200-day simple moving average is $23.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. SiriusPoint has a 52 week low of $17.39 and a 52 week high of $26.50. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 6.11 and a beta of 0.59.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Thursday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. As a group, equities research analysts expect that SiriusPoint will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in SiriusPoint by 7.8% during the 2nd quarter. Wellington Management Group LLP now owns 3,342,706 shares of the company’s stock worth $80,225,000 after acquiring an additional 241,648 shares during the last quarter. Bank of America Corp DE bought a new stake in SiriusPoint during the second quarter valued at about $8,721,000. The Manufacturers Life Insurance Company bought a new stake in SiriusPoint during the second quarter valued at about $988,000. Legal & General Group Plc acquired a new stake in shares of SiriusPoint in the second quarter valued at about $5,763,000. Finally, PDT Partners LLC acquired a new stake in shares of SiriusPoint in the second quarter valued at about $3,400,000. 52.79% of the stock is currently owned by institutional investors and hedge funds.

SiriusPoint Company Profile

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting capacity to businesses, institutions and insurance companies across a range of specialty markets, with operations and business relationships spanning North America, Europe, Bermuda and other international markets.

Its offerings include property and casualty insurance and reinsurance, as well as specialty lines such as accident and health, marine, energy, environmental, workers’ compensation and other niche commercial risks.