SiriusPoint Ltd. (NYSE:SPNT) Receives $25.00 Average Price Target from Brokerages

SiriusPoint Ltd. (NYSE:SPNT) has received an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

Several research analysts have recently weighed in on the stock. Raymond James Financial began coverage on shares of SiriusPoint in a report on Friday, January 16th. They set a “market perform” rating for the company. Zacks Research lowered shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Wall Street Zen lowered SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings raised SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, February 25th.

SiriusPoint Trading Up 0.9%

Shares of NYSE:SPNT opened at $21.23 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. SiriusPoint has a 1 year low of $14.05 and a 1 year high of $22.89. The company has a market cap of $2.48 billion, a P/E ratio of 5.75 and a beta of 0.66. The stock’s fifty day moving average price is $20.71 and its 200-day moving average price is $19.85.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.54 by $0.16. The company had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

Hedge Funds Weigh In On SiriusPoint

A number of institutional investors and hedge funds have recently made changes to their positions in SPNT. Goldman Sachs Group Inc. increased its holdings in SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after buying an additional 1,440,836 shares during the last quarter. American Century Companies Inc. grew its position in shares of SiriusPoint by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,891,478 shares of the company’s stock valued at $99,737,000 after acquiring an additional 1,101,899 shares during the period. Donald Smith & CO. Inc. increased its stake 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 in the last quarter. Capital Research Global Investors raised its holdings in SiriusPoint by 17.5% in the 3rd quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock worth $121,203,000 after purchasing an additional 1,000,000 shares during the period. Finally, Victory Capital Management Inc. lifted its position in SiriusPoint by 20.6% during the third quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock valued at $78,019,000 after purchasing an additional 736,823 shares in the last quarter. Hedge funds and other 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.