Brokerages Set SiriusPoint Ltd. (NYSE:SPNT) PT at $31.00

SiriusPoint Ltd. (NYSE:SPNT) has been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.00.

SPNT has been the topic of several research reports. B. Riley Financial started coverage on shares of SiriusPoint in a research report on Friday, April 17th. They set a “buy” rating and a $31.00 price objective on the stock. Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings lowered SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

SiriusPoint Trading Down 0.6%

NYSE:SPNT opened at $24.33 on Friday. The company has a market capitalization of $2.86 billion, a PE ratio of 6.05 and a beta of 0.60. SiriusPoint has a 52-week low of $17.17 and a 52-week high of $25.00. The stock’s 50 day moving average price is $23.09 and its 200 day moving average price is $21.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30.

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

Institutional Investors Weigh In On SiriusPoint

Several large investors have recently modified their holdings of SPNT. Goldman Sachs Group Inc. grew its position 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 buying an additional 1,440,836 shares during the last quarter. Donald Smith & CO. Inc. raised its position in SiriusPoint by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock worth $184,510,000 after buying an additional 1,026,284 shares during the last quarter. Capital Research Global Investors raised its position in SiriusPoint by 17.5% during the 3rd quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock worth $121,203,000 after buying an additional 1,000,000 shares during the last quarter. Millennium Management LLC lifted its stake in shares of SiriusPoint by 3,428.3% in the 3rd quarter. Millennium Management LLC now owns 584,318 shares of the company’s stock worth $10,570,000 after acquiring an additional 567,757 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in shares of SiriusPoint by 2,183.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 515,464 shares of the company’s stock worth $9,325,000 after acquiring an additional 492,894 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.