SiriusPoint (NYSE:SPNT) Issues Quarterly Earnings Results

by · The Cerbat Gem

SiriusPoint (NYSE:SPNT – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17, Zacks 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 17.42% and a net margin of 15.38%.

SiriusPoint Trading Up 0.0%

SiriusPoint stock opened at $23.49 on Friday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.84 and a beta of 0.66. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. SiriusPoint has a 52 week low of $17.17 and a 52 week high of $23.97. The stock has a 50-day moving average price of $21.97 and a 200 day moving average price of $21.01.

Hedge Funds Weigh In On SiriusPoint

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new position in shares of SiriusPoint during the 4th quarter worth $232,000. State of Tennessee Department of Treasury grew its holdings in shares of SiriusPoint by 144.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 51,305 shares of the company’s stock worth $1,047,000 after purchasing an additional 30,348 shares during the period. Empowered Funds LLC grew its holdings in shares of SiriusPoint by 4.5% during the 4th quarter. Empowered Funds LLC now owns 534,017 shares of the company’s stock worth $11,690,000 after purchasing an additional 22,843 shares during the period. Inspire Investing LLC purchased a new position in shares of SiriusPoint during the 4th quarter worth $185,000. Finally, Evolve Private Wealth LLC purchased a new position in shares of SiriusPoint during the 4th quarter worth $574,000. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings raised SiriusPoint from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, April 24th. Raymond James Financial initiated coverage on SiriusPoint in a report on Friday, January 16th. They set a “market perform” rating for the company. B. Riley Financial initiated coverage on SiriusPoint in a report on Friday, April 17th. They set a “buy” rating and a $31.00 target price for the company. Finally, Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $28.00.

View Our Latest Report on SPNT

About SiriusPoint

(Get Free Report)

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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