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

Shares of SiriusPoint Ltd. (NYSE:SPNT) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.16. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%. The firm had revenue of $973.70 million for the quarter, compared to the consensus estimate of $773.00 million.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SPNT shares. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday, December 29th. Finally, Raymond James Financial began coverage on shares of SiriusPoint in a research report on Friday, January 16th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Institutional Investors Weigh In On SiriusPoint

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in SiriusPoint by 20.1% in the 1st quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock valued at $304,000 after acquiring an additional 2,949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SiriusPoint by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company’s stock worth $967,000 after purchasing an additional 2,480 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock worth $36,079,000 after purchasing an additional 1,440,836 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of SiriusPoint by 15.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 228,874 shares of the company’s stock valued at $3,957,000 after purchasing an additional 30,022 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of SiriusPoint by 281.2% in the first quarter. Jane Street Group LLC now owns 236,222 shares of the company’s stock valued at $4,084,000 after purchasing an additional 174,246 shares in the last quarter. 52.79% of the stock is owned by institutional investors.

SiriusPoint Stock Performance

The company has a 50-day moving average of $20.91 and a 200-day moving average of $19.65. The company has a market cap of $2.60 billion, a PE ratio of 13.99 and a beta of 0.68. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.34.

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.