SiriusPoint (NYSE:SPNT) Announces Earnings Results

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

SiriusPoint Stock Down 0.7%

NYSE:SPNT traded down $0.17 during trading hours on Friday, hitting $23.48. The company’s stock had a trading volume of 440,791 shares, compared to its average volume of 722,233. SiriusPoint has a 52-week low of $17.17 and a 52-week high of $26.48. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.76 billion, a P/E ratio of 5.72 and a beta of 0.60. The stock has a fifty day moving average of $23.59 and a 200-day moving average of $22.26.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPNT. Goldman Sachs Group Inc. boosted its stake in SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $36,079,000 after acquiring an additional 1,440,836 shares in the last quarter. Millennium Management LLC increased its position in SiriusPoint by 3,428.3% during the 3rd quarter. Millennium Management LLC now owns 584,318 shares of the company’s stock worth $10,570,000 after purchasing an additional 567,757 shares during the period. Qube Research & Technologies Ltd raised its position in SiriusPoint by 2,183.8% in the third quarter. Qube Research & Technologies Ltd now owns 515,464 shares of the company’s stock worth $9,325,000 after acquiring an additional 492,894 shares in the last quarter. State Street Corp boosted its holdings in SiriusPoint by 12.1% during the fourth quarter. State Street Corp now owns 4,325,405 shares of the company’s stock worth $94,683,000 after buying an additional 468,060 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of SiriusPoint by 74.3% in the 4th quarter. Federated Hermes Inc. now owns 1,069,151 shares of the company’s stock worth $23,404,000 after acquiring an additional 455,619 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SPNT. Zacks Research downgraded shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, B. Riley Financial assumed 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.00.

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.