SiriusPoint (NYSE:SPNT) Sets New 1-Year High – Should You Buy?

SiriusPoint Ltd. (NYSE:SPNT)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $16.51 and last traded at $16.62, with a volume of 22614 shares changing hands. The stock had previously closed at $16.25.

Wall Street Analyst Weigh In

Separately, DOWLING & PARTN upgraded SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th.

SiriusPoint Stock Up 0.5 %

The stock’s fifty day moving average price is $14.75 and its 200-day moving average price is $14.57. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.28 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.37.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.49). SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The company had revenue of $612.80 million during the quarter.

Insider Activity

In other news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the completion of the transaction, the director now directly owns 9,428,008 shares in the company, valued at approximately $129,257,989.68. The trade was a 30.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.32% of the company’s stock.

Institutional Investors Weigh In On SiriusPoint

A number of large investors have recently added to or reduced their stakes in SPNT. R Squared Ltd bought a new position in shares of SiriusPoint in the fourth quarter valued at about $35,000. Sterling Capital Management LLC raised its holdings in SiriusPoint by 742.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company’s stock valued at $44,000 after acquiring an additional 2,392 shares during the period. Smartleaf Asset Management LLC lifted its position in SiriusPoint by 122.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,236 shares of the company’s stock worth $53,000 after acquiring an additional 1,779 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SiriusPoint by 14,087.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock worth $53,000 after acquiring an additional 3,240 shares during the period. Finally, KBC Group NV grew its position in shares of SiriusPoint by 80.1% in the fourth quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after purchasing an additional 2,640 shares during the last quarter. Institutional investors own 52.79% of the company’s stock.

About SiriusPoint

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.