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 report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings downgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, March 19th. Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial assumed coverage on shares of SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, SiriusPoint currently has an average rating of “Buy” and an average price target of $25.00.

SiriusPoint Trading Up 1.6%

SPNT opened at $23.25 on Monday. The company’s 50 day moving average is $20.98 and its 200-day moving average is $20.32. SiriusPoint has a 1-year low of $14.91 and a 1-year high of $23.42. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.72 billion, a P/E ratio of 6.30 and a beta of 0.65.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. SiriusPoint had a net margin of 14.34% and a return on equity of 15.90%. The company had revenue of $973.70 million for the quarter, compared to the consensus estimate of $773.00 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new position in SiriusPoint in the 4th quarter valued at approximately $232,000. State of Tennessee Department of Treasury raised its holdings in SiriusPoint by 144.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 51,305 shares of the company’s stock valued at $1,047,000 after buying an additional 30,348 shares during the last quarter. Empowered Funds LLC raised its holdings in SiriusPoint by 4.5% in the 4th quarter. Empowered Funds LLC now owns 534,017 shares of the company’s stock valued at $11,690,000 after buying an additional 22,843 shares during the last quarter. Inspire Investing LLC bought a new position in SiriusPoint in the 4th quarter valued at approximately $185,000. Finally, Evolve Private Wealth LLC bought a new position in SiriusPoint in the 4th quarter valued at approximately $574,000. 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.