SiriusPoint (NYSE:SPNT) Issues Earnings Results

SiriusPoint (NYSE:SPNT) announced its quarterly earnings data on Wednesday. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16, FiscalAI reports. The company had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million. SiriusPoint had a net margin of 14.34% and a return on equity of 16.64%.

SiriusPoint Stock Up 7.1%

NYSE SPNT opened at $22.04 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 5.97 and a beta of 0.68. The company has a 50 day moving average of $20.91 and a 200-day moving average of $19.67. SiriusPoint has a 1-year low of $13.58 and a 1-year high of $22.89.

Hedge Funds Weigh In On SiriusPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Inspire Investing LLC bought a new position in shares of SiriusPoint in the fourth quarter worth $185,000. Entropy Technologies LP acquired a new position in SiriusPoint in the third quarter valued at about $192,000. Royal Bank of Canada lifted its position in SiriusPoint by 64.0% during the fourth quarter. Royal Bank of Canada now owns 8,790 shares of the company’s stock worth $192,000 after purchasing an additional 3,430 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in SiriusPoint during the third quarter worth about $198,000. 52.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPNT. Raymond James Financial assumed coverage on SiriusPoint in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b+)” rating on shares of SiriusPoint in a report on Monday, December 29th. Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen lowered shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.00.

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.