SiriusPoint (NYSE:SPNT) Upgraded at B. Riley

B. Riley upgraded shares of SiriusPoint (NYSE:SPNT) to a strong-buy rating in a research report report published on Sunday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 target price on the stock. Oppenheimer set a $25.00 target price on SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Finally, Wall Street Zen lowered SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.00.

SiriusPoint Stock Up 0.9%

SPNT opened at $19.48 on Friday. The business’s 50-day simple moving average is $19.39 and its 200-day simple moving average is $16.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. SiriusPoint has a one year low of $12.78 and a one year high of $21.03. The stock has a market capitalization of $2.27 billion, a P/E ratio of 20.29 and a beta of 0.86.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $727.30 million during the quarter, compared to the consensus estimate of $688.00 million. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%.

Insider Transactions at SiriusPoint

In other news, Director La Gueronniere Rafe De sold 30,000 shares of SiriusPoint stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the sale, the director owned 127,578 shares of the company’s stock, valued at approximately $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiriusPoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of SiriusPoint by 3.5% in the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company’s stock valued at $9,163,000 after buying an additional 18,114 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of SiriusPoint by 91.0% in the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company’s stock valued at $76,000 after buying an additional 2,086 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of SiriusPoint by 67.5% in the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company’s stock valued at $1,033,000 after buying an additional 24,074 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of SiriusPoint by 4,246.7% in the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock valued at $47,397,000 after buying an additional 2,678,214 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of SiriusPoint by 9.1% in the fourth quarter. Northern Trust Corp now owns 1,059,021 shares of the company’s stock valued at $17,357,000 after buying an additional 88,296 shares in the last quarter. Institutional investors own 52.79% of the company’s stock.

About SiriusPoint

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.