SiriusPoint (NYSE:SPNT) Reaches New 12-Month High – Here’s Why

SiriusPoint Ltd. (NYSE:SPNT)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $22.89 and last traded at $22.77, with a volume of 56697 shares changing hands. The stock had previously closed at $22.63.

Analysts Set New Price Targets

Several equities analysts recently commented on SPNT shares. Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research report on Monday, December 15th. Zacks Research upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen raised shares of SiriusPoint from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $25.00.

SiriusPoint Stock Up 0.3%

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.28 and a beta of 0.68. The firm’s fifty day moving average is $20.11 and its 200-day moving average is $19.29.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. The business had revenue of $755.90 million for the quarter, compared to analyst estimates of $738.35 million. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%.

Hedge Funds Weigh In On SiriusPoint

A number of large investors have recently bought and sold shares of SPNT. USA Financial Formulas acquired a new stake in shares of SiriusPoint during the 2nd quarter worth approximately $27,000. Caitlin John LLC bought a new position in SiriusPoint during the 3rd quarter worth $39,000. EverSource Wealth Advisors LLC increased its position in SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock worth $43,000 after buying an additional 1,377 shares during the period. Quarry LP lifted its stake in SiriusPoint by 1,737.6% in the first quarter. Quarry LP now owns 3,473 shares of the company’s stock valued at $60,000 after buying an additional 3,284 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of SiriusPoint by 14.6% during the second quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock valued at $102,000 after acquiring an additional 639 shares during the period. Institutional investors own 52.79% of the company’s stock.

About SiriusPoint

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.