SiriusPoint Ltd. (NYSE:SPNT) Stock Has Average Target Price of $30.50 According to Analysts

SiriusPoint Ltd. (NYSE:SPNT) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $30.67.

Several analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $31.00 target price on shares of SiriusPoint in a research report on Monday. Royal Bank Of Canada initiated coverage on SiriusPoint in a research report on Tuesday, September 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Weiss Ratings raised SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a research note on Tuesday, October 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPNT. Caitlin John LLC bought a new stake in SiriusPoint in the second quarter valued at approximately $52,000. EverSource Wealth Advisors LLC raised its holdings in SiriusPoint by 51.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company’s stock worth $80,000 after purchasing an additional 1,256 shares during the period. Farther Finance Advisors LLC boosted its position in shares of SiriusPoint by 73.0% during the third quarter. Farther Finance Advisors LLC now owns 4,023 shares of the company’s stock worth $98,000 after purchasing an additional 1,697 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of SiriusPoint during the second quarter worth $205,000. Finally, Globeflex Capital L P bought a new position in shares of SiriusPoint during the second quarter worth $206,000. Institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Down 1.3%

NYSE:SPNT opened at $27.03 on Friday. The stock’s fifty day moving average price is $25.21 and its two-hundred day moving average price is $23.26. SiriusPoint has a 52-week low of $19.15 and a 52-week high of $27.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 6.58 and a beta of 0.60.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. The firm had revenue of $867.60 million for the quarter, compared to analyst estimates of $740.99 million. SiriusPoint had a return on equity of 15.89% and a net margin of 14.93%. On average, analysts anticipate that SiriusPoint will post 2.70 EPS for the current year.

About SiriusPoint

SiriusPoint Ltd. is a Bermuda-based global insurer and reinsurer that provides specialty insurance and reinsurance products to businesses and other organizations. Its offerings span areas such as property and casualty, accident and health, and other specialty risks. The company works with brokers, agents, managing general agents and other distribution partners to underwrite risks across a range of markets. Its business serves clients in the United States and internationally, including in Europe and other regions.