SiriusPoint (NYSE:SPNT) Shares Gap Up After Earnings Beat

SiriusPoint Ltd. (NYSE:SPNT)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $20.57, but opened at $21.48. SiriusPoint shares last traded at $22.35, with a volume of 82,064 shares traded.

The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.16. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.The firm had revenue of $973.70 million for the quarter, compared to the consensus estimate of $773.00 million.

Analysts Set New Price Targets

Several brokerages have issued reports on SPNT. Wall Street Zen downgraded shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Raymond James Financial started coverage on shares of SiriusPoint in a report on Friday, January 16th. They issued a “market perform” rating for the company. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Jefferies Financial Group upgraded shares of SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a research report on Monday, December 29th. Two equities 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Hedge Funds Weigh In On SiriusPoint

A number of hedge funds and other institutional investors have recently made changes to their positions in SPNT. Arizona State Retirement System boosted its holdings in SiriusPoint by 1.9% during the third quarter. Arizona State Retirement System now owns 31,050 shares of the company’s stock worth $562,000 after buying an additional 576 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of SiriusPoint by 2.7% in the second quarter. ProShare Advisors LLC now owns 22,698 shares of the company’s stock worth $463,000 after acquiring an additional 592 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of SiriusPoint by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company’s stock valued at $1,276,000 after purchasing an additional 649 shares during the period. Ameritas Investment Partners Inc. increased its stake in SiriusPoint by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,469 shares of the company’s stock worth $213,000 after purchasing an additional 807 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in SiriusPoint by 50.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company’s stock worth $54,000 after buying an additional 823 shares during the period. 52.79% of the stock is owned by institutional investors.

SiriusPoint Price Performance

The company has a market cap of $2.50 billion, a price-to-earnings ratio of 5.81 and a beta of 0.68. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average price is $20.89 and its two-hundred day moving average price is $19.69.

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.