SiriusPoint (NYSE:SPNT) Posts Earnings Results, Beats Expectations By $0.17 EPS

SiriusPoint (NYSE:SPNT - Get Free Report) announced its earnings results on Thursday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.17, Zacks reports. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The business had revenue of $774.60 million during the quarter, compared to analysts' expectations of $857.58 million.

SiriusPoint Trading Up 1.0%

SPNT stock traded up $0.23 during trading on Friday, hitting $22.90. The company had a trading volume of 567,771 shares, compared to its average volume of 665,598. The firm has a 50-day moving average price of $22.14 and a 200-day moving average price of $21.18. SiriusPoint has a 12 month low of $17.17 and a 12 month high of $24.00. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 5.70 and a beta of 0.66.

Analysts Set New Price Targets

Several analysts have weighed in on SPNT shares. Wall Street Zen cut shares of SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday. Raymond James Financial initiated coverage on SiriusPoint in a report on Friday, January 16th. They issued a "market perform" rating on the stock. B. Riley Financial began coverage on SiriusPoint in a research report on Friday, April 17th. They set a "buy" rating and a $31.00 price target on the stock. Finally, Zacks Research downgraded SiriusPoint from a "strong-buy" rating to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Institutional Investors Weigh In On SiriusPoint

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP boosted its holdings in SiriusPoint by 8.9% in the third quarter. Two Sigma Investments LP now owns 37,971 shares of the company's stock valued at $687,000 after acquiring an additional 3,117 shares during the last quarter. New York State Common Retirement Fund raised its holdings in SiriusPoint by 28.2% during the 2nd quarter. New York State Common Retirement Fund now owns 33,600 shares of the company's stock worth $685,000 after purchasing an additional 7,400 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in SiriusPoint during the 4th quarter valued at about $574,000. Magnetar Financial LLC bought a new position in shares of SiriusPoint in the 3rd quarter valued at about $555,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of SiriusPoint in the 2nd quarter valued at about $460,000. 52.79% of the stock is owned by institutional investors and hedge funds.

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.