Analysts Set SiriusPoint Ltd. (NYSE:SPNT) PT at $28.00

SiriusPoint Ltd. (NYSE:SPNT) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

SPNT has been the subject of several analyst reports. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. B. Riley Financial began coverage on SiriusPoint in a research report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target on the stock. Raymond James Financial began coverage on SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating for the company. Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, March 19th. Finally, Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th.

SiriusPoint Price Performance

Shares of SPNT opened at $23.35 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. SiriusPoint has a twelve month low of $16.07 and a twelve month high of $23.66. The stock has a market capitalization of $2.73 billion, a P/E ratio of 6.33 and a beta of 0.65. The company has a 50 day moving average of $21.57 and a 200-day moving average of $20.69.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Saturday, February 14th. The company reported $0.70 earnings per share (EPS) 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 analysts’ expectations of $773.00 million. As a group, equities research analysts forecast that SiriusPoint will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On SiriusPoint

Institutional investors have recently added to or reduced their stakes in the business. Caitlin John LLC bought a new position in SiriusPoint during the third quarter worth $39,000. Optima Capital LLC bought a new stake in SiriusPoint during the fourth quarter valued at $41,000. EverSource Wealth Advisors LLC boosted its position in SiriusPoint by 187.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG acquired a new stake in SiriusPoint during the 4th quarter worth about $136,000. Finally, Torren Management LLC bought a new position in shares of SiriusPoint in the 4th quarter worth about $143,000. 52.79% of the stock is owned by institutional investors.

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.