SiriusPoint (NYSE:SPNT) Stock Rating Lowered by Zacks Research

SiriusPoint (NYSE:SPNT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on SPNT. Wall Street Zen downgraded shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday. B. Riley Financial initiated coverage on shares of SiriusPoint in a research note on Friday, April 17th. They issued a “buy” rating and a $31.00 target price on the stock. Weiss Ratings downgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Raymond James Financial initiated coverage on shares of SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

SiriusPoint Stock Performance

Shares of NYSE:SPNT opened at $22.84 on Monday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 5.68 and a beta of 0.66. SiriusPoint has a 12 month low of $17.17 and a 12 month high of $24.00. The firm’s 50-day moving average is $22.08 and its 200 day moving average is $21.12. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $774.60 million for the quarter, compared to the consensus estimate of $857.58 million. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. Research analysts predict that SiriusPoint will post 2.57 EPS for the current year.

Institutional Investors Weigh In On SiriusPoint

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of SiriusPoint by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company’s stock worth $265,452,000 after purchasing an additional 368,908 shares during the period. Donald Smith & CO. Inc. lifted its position in shares of SiriusPoint by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock worth $184,510,000 after purchasing an additional 1,026,284 shares during the period. Capital Research Global Investors lifted its position in shares of SiriusPoint by 11.2% in the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after purchasing an additional 747,968 shares during the period. American Century Companies Inc. lifted its position in shares of SiriusPoint by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 5,745,793 shares of the company’s stock worth $103,941,000 after purchasing an additional 854,315 shares during the period. Finally, State Street Corp lifted its position in shares of SiriusPoint by 12.1% in the 4th quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after purchasing an additional 468,060 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.