SiriusPoint (NYSE:SPNT) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

SiriusPoint (NYSE:SPNT - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.23, Zacks reports. The company had revenue of $727.30 million for the quarter, compared to analyst estimates of $688.00 million. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

SiriusPoint Stock Down 1.3 %

SPNT stock traded down $0.26 during mid-day trading on Friday, hitting $19.04. 85,762 shares of the company were exchanged, compared to its average volume of 606,122. The firm has a fifty day simple moving average of $16.30 and a 200 day simple moving average of $15.23. The company has a market capitalization of $3.09 billion, a PE ratio of 19.83 and a beta of 0.81. SiriusPoint has a twelve month low of $11.92 and a twelve month high of $19.74. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 0.37.

Insider Transactions at SiriusPoint

In related news, Director Daniel S. Loeb sold 4,106,631 shares of the business's 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 completion of the sale, the director now directly owns 9,428,008 shares of the company's stock, valued at $129,257,989.68. The trade was a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Jefferies Financial Group began coverage on SiriusPoint in a research report on Tuesday, April 15th. They set a "hold" rating and a $17.00 target price on the 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.