SiriusPoint (NYSE:SPNT) Sets New 52-Week High – Should You Buy?

SiriusPoint Ltd. (NYSE:SPNT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.47 and last traded at $17.37, with a volume of 129198 shares. The stock had previously closed at $17.06.

Analyst Upgrades and Downgrades

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

SiriusPoint Trading Up 3.3 %

The stock has a market cap of $2.90 billion, a PE ratio of 18.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The company has a 50 day moving average of $14.93 and a two-hundred day moving average of $14.67.

SiriusPoint (NYSE:SPNT) last announced its earnings results 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 return on equity of 8.73% and a net margin of 7.68%. The business had revenue of $612.80 million for the quarter.

Insider Activity

In related news, Director Daniel S. Loeb sold 4,106,631 shares of SiriusPoint stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.71, for a total value of $56,301,911.01. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.32% of the company’s stock.

Institutional Trading of SiriusPoint

Large investors have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of SiriusPoint in the fourth quarter valued at about $35,000. Sterling Capital Management LLC boosted its holdings in shares of SiriusPoint by 742.9% during the 4th 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 during the last quarter. 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 buying an additional 1,779 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in SiriusPoint by 14,087.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,263 shares of the company’s stock valued at $53,000 after buying an additional 3,240 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of SiriusPoint by 80.1% during the 4th quarter. KBC Group NV now owns 5,935 shares of the company’s stock valued at $97,000 after acquiring an additional 2,640 shares during the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

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.