SiriusPoint (NYSE:SPNT) Upgraded at Zacks Research

Zacks Research upgraded shares of SiriusPoint (NYSE:SPNT) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Several other analysts have also recently issued reports on SPNT. Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a research report on Monday. Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, SiriusPoint has an average rating of “Buy” and an average price target of $25.00.

SiriusPoint Stock Up 1.0%

NYSE SPNT opened at $21.31 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $2.49 billion, a P/E ratio of 13.40 and a beta of 0.68. SiriusPoint has a one year low of $13.26 and a one year high of $21.33. The stock has a 50 day moving average price of $19.13 and a 200-day moving average price of $19.05.

SiriusPoint (NYSE:SPNT) last posted its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. The firm had revenue of $755.90 million during 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%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPNT. USA Financial Formulas purchased a new stake in shares of SiriusPoint in the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in SiriusPoint by 187.1% during 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. Caitlin John LLC bought a new stake in SiriusPoint during the 3rd quarter valued at $39,000. Quarry LP increased its holdings in shares of SiriusPoint by 1,737.6% in the 1st quarter. Quarry LP now owns 3,473 shares of the company’s stock valued at $60,000 after acquiring an additional 3,284 shares during the period. Finally, US Bancorp DE bought a new position in shares of SiriusPoint in the 1st quarter worth $65,000. Hedge funds and other 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.