SiriusPoint (NYSE:SPNT) Announces Earnings Results, Beats Estimates By $0.02 EPS

SiriusPoint (NYSE:SPNT) released its earnings results on Wednesday. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02, FiscalAI reports. The company had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. SiriusPoint had a return on equity of 16.43% and a net margin of 15.56%.

SiriusPoint Stock Down 0.4%

Shares of SiriusPoint stock traded down $0.10 during trading hours on Friday, hitting $23.56. The company had a trading volume of 528,210 shares, compared to its average volume of 722,850. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50-day moving average is $23.59 and its two-hundred day moving average is $22.26. The company has a market cap of $2.77 billion, a P/E ratio of 5.75 and a beta of 0.60. SiriusPoint has a twelve month low of $17.17 and a twelve month high of $26.48.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPNT. Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, B. Riley Financial started coverage on SiriusPoint in a research report on Friday, April 17th. They set a “buy” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.00.

Hedge Funds Weigh In On SiriusPoint

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of SiriusPoint by 187.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after purchasing an additional 1,377 shares during the last quarter. Inspire Investing LLC acquired a new position in SiriusPoint during the fourth quarter worth approximately $185,000. Entropy Technologies LP purchased a new stake in SiriusPoint in the third quarter valued at approximately $192,000. Royal Bank of Canada boosted its holdings in shares of SiriusPoint by 64.0% in the fourth quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock valued at $192,000 after acquiring an additional 3,430 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of SiriusPoint in the third quarter valued at approximately $198,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.