SiriusPoint (NYSE:SPNT) Coverage Initiated at B. Riley Financial

B. Riley Financial began coverage on shares of SiriusPoint (NYSE:SPNT) in a report released on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $31.00 price target on the stock. B. Riley Financial’s price target would indicate a potential upside of 33.07% from the stock’s current price.

Several other brokerages also recently issued reports on SPNT. Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, March 19th. Raymond James Financial began coverage on SiriusPoint in a research report on Friday, January 16th. They set a “market perform” rating for the company. Finally, Zacks Research upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, SiriusPoint presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

SiriusPoint Stock Performance

Shares of NYSE SPNT opened at $23.30 on Friday. 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 stock has a 50 day simple moving average of $21.31 and a 200-day simple moving average of $20.56. The company has a market cap of $2.73 billion, a PE ratio of 6.31 and a beta of 0.65. SiriusPoint has a 12-month low of $15.90 and a 12-month high of $23.60.

SiriusPoint (NYSE:SPNT) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.16. The business 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%.

Institutional Investors Weigh In On SiriusPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SiriusPoint by 3.1% during the fourth 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 in the last quarter. Donald Smith & CO. Inc. raised its holdings in SiriusPoint by 13.9% during the fourth 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 11.2% during the fourth 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 in the last quarter. American Century Companies Inc. raised its holdings in SiriusPoint by 17.5% during the third 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 in the last quarter. Finally, State Street Corp raised its holdings in SiriusPoint by 12.1% during the fourth 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 in the last quarter. 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.