SiriusPoint (NYSE:SPNT) Lowered to “Buy” Rating by Wall Street Zen

SiriusPoint (NYSE:SPNTGet Free Report) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also issued reports about the company. DOWLING & PARTN raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group started coverage on SiriusPoint in a research note on Tuesday, April 15th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an “outperform” rating in a research note on Thursday.

Read Our Latest Stock Analysis on SPNT

SiriusPoint Stock Performance

SPNT opened at $20.46 on Friday. The firm has a market cap of $2.38 billion, a P/E ratio of 21.31 and a beta of 0.86. SiriusPoint has a 52-week low of $11.96 and a 52-week high of $21.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. The business’s fifty day moving average is $18.89 and its 200-day moving average is $16.44.

SiriusPoint (NYSE:SPNTGet Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.23. The business had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%.

Insider Activity

In other news, Director La Gueronniere Rafe De sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the transaction, the director now directly owns 127,578 shares in the company, valued at $2,494,149.90. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On SiriusPoint

A number of hedge funds have recently made changes to their positions in SPNT. Sterling Capital Management LLC increased its holdings in SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock worth $44,000 after purchasing an additional 2,392 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in SiriusPoint by 122.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock worth $53,000 after purchasing an additional 1,779 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in SiriusPoint by 14,087.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock worth $53,000 after purchasing an additional 3,240 shares in the last quarter. Quarry LP increased its holdings in SiriusPoint by 1,737.6% in the first quarter. Quarry LP now owns 3,473 shares of the company’s stock worth $60,000 after purchasing an additional 3,284 shares in the last quarter. Finally, US Bancorp DE bought a new stake in SiriusPoint in the first quarter worth approximately $65,000. 52.79% of the stock is currently owned by institutional investors.

About SiriusPoint

(Get Free Report)

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.

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