SiriusPoint (NYSE:SPNT) Reaches New 1-Year High – Time to Buy?

SiriusPoint Ltd. (NYSE:SPNT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $16.51 and last traded at $16.62, with a volume of 22614 shares trading hands. The stock had previously closed at $16.25.

Wall Street Analysts Forecast Growth

Separately, DOWLING & PARTN upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th.

SiriusPoint Price Performance

The company has a market cap of $2.67 billion, a P/E ratio of 17.13 and a beta of 0.87. The company’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $14.54. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.49). SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The firm had revenue of $612.80 million during the quarter.

Insider Activity at SiriusPoint

In other news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.71, for a total value of $56,301,911.01. Following the completion of the transaction, the director now directly owns 9,428,008 shares of the company’s stock, valued at approximately $129,257,989.68. The trade was a 30.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.32% of the company’s stock.

Hedge Funds Weigh In On SiriusPoint

Large investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of SiriusPoint by 172.7% during the third quarter. Barclays PLC now owns 210,545 shares of the company’s stock valued at $3,018,000 after purchasing an additional 133,331 shares during the last quarter. Principal Financial Group Inc. grew its stake in SiriusPoint by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock worth $7,403,000 after buying an additional 7,320 shares during the last quarter. Geode Capital Management LLC grew its stake in SiriusPoint by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,284,726 shares of the company’s stock worth $32,769,000 after buying an additional 115,868 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in SiriusPoint by 122.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock valued at $53,000 after buying an additional 1,779 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in SiriusPoint by 5.9% in the third quarter. Victory Capital Management Inc. now owns 57,420 shares of the company’s stock valued at $823,000 after buying an additional 3,177 shares during the last quarter. Institutional investors own 52.79% of the company’s stock.

SiriusPoint Company Profile

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.