SiriusPoint (NYSE:SPNT) Announces Earnings Results

Key Points

• SiriusPoint beat earnings expectations: The insurer reported quarterly EPS of $0.67, ahead of the $0.65 consensus estimate, but revenue of $744.1 million fell short of analysts’ $799.0 million forecast.
• Shares declined 1.8% to $25.83 after the results. The stock has a market capitalization of about $3.04 billion and trades near its 52-week high of $26.48.
• Analyst sentiment remains cautious: SiriusPoint has a consensus “Hold” rating and an average price target of $31.00, while institutional investors own 52.79% of the company.

SiriusPoint (NYSE:SPNT - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.02, FiscalAI reports. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The company had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million.

SiriusPoint Stock Down 1.8%

SiriusPoint stock traded down $0.48 during midday trading on Wednesday, hitting $25.83. 929,573 shares of the company were exchanged, compared to its average volume of 718,290. The company has a market cap of $3.04 billion, a PE ratio of 6.42 and a beta of 0.60. SiriusPoint has a fifty-two week low of $17.17 and a fifty-two week high of $26.48. The company's fifty day moving average price is $23.54 and its 200-day moving average price is $22.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPNT shares. B. Riley Financial assumed coverage on SiriusPoint in a research report on Friday, April 17th. They issued a "buy" rating and a $31.00 target price on the stock. Wall Street Zen lowered SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, May 11th. Finally, Zacks Research lowered SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.00.

Institutional Trading of SiriusPoint

A number of hedge funds have recently made changes to their positions in SPNT. State Street Corp lifted its position in shares of 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. Geode Capital Management LLC lifted its holdings in SiriusPoint by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,447,810 shares of the company's stock worth $53,592,000 after buying an additional 13,305 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after buying an additional 1,440,836 shares during the last quarter. Invesco Ltd. boosted its position in SiriusPoint by 20.9% in the 3rd quarter. Invesco Ltd. now owns 1,590,435 shares of the company's stock valued at $28,771,000 after buying an additional 275,308 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of SiriusPoint by 74.3% during the fourth quarter. Federated Hermes Inc. now owns 1,069,151 shares of the company's stock valued at $23,404,000 after acquiring an additional 455,619 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

About SiriusPoint

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.