SiriusPoint (NYSE:SPNT) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• SiriusPoint reported Q1 EPS of $0.70, beating the consensus by $0.05, but revenue of $774.6 million fell short of the $857.6 million estimate; the company posted a 15.90% return on equity and a 14.34% net margin.
• Shares traded up 1.2% to $23.55 after the release; the stock trades at a P/E of 6.38 with a $2.76 billion market cap, and analysts have a consensus Buy rating with an average target of $28 (B. Riley $31).

SiriusPoint (NYSE:SPNT - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05, FiscalAI reports. The business had revenue of $774.60 million during the quarter, compared to the consensus estimate of $857.58 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

SiriusPoint Trading Up 1.2%

SPNT traded up $0.27 during midday trading on Thursday, hitting $23.55. The company's stock had a trading volume of 716,996 shares, compared to its average volume of 656,944. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.76 billion, a P/E ratio of 6.38 and a beta of 0.66. The firm has a 50-day moving average price of $21.92 and a two-hundred day moving average price of $20.97. SiriusPoint has a 52-week low of $17.17 and a 52-week high of $23.97.

Institutional Trading of SiriusPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its holdings in SiriusPoint by 7.2% in the 4th quarter. Natixis Advisors LLC now owns 13,592 shares of the company's stock valued at $298,000 after buying an additional 916 shares during the period. Boothbay Fund Management LLC grew its holdings in shares of SiriusPoint by 0.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 116,800 shares of the company's stock worth $2,113,000 after purchasing an additional 1,007 shares during the period. Mariner LLC grew its holdings in shares of SiriusPoint by 5.3% during the 3rd quarter. Mariner LLC now owns 23,220 shares of the company's stock worth $420,000 after purchasing an additional 1,179 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of SiriusPoint by 187.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company's stock worth $43,000 after purchasing an additional 1,377 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SiriusPoint by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company's stock worth $967,000 after purchasing an additional 2,480 shares during the period. Hedge funds and other institutional investors own 52.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SPNT shares. Zacks Research raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. B. Riley Financial started coverage on shares of SiriusPoint in a research note on Friday, April 17th. They issued a "buy" rating and a $31.00 target price for the company. Jefferies Financial Group raised shares of SiriusPoint to a "hold" rating in a research note on Wednesday, February 4th. Weiss Ratings raised shares of SiriusPoint from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $28.00.

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.

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