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

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.

The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. SiriusPoint had a return on equity of 11.31% and a net margin of 6.97%.The business had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million.

Analysts Set New Price Targets

SPNT has been the subject of several research analyst reports. Raymond James Financial assumed coverage on shares of SiriusPoint in a research report on Friday, January 16th. They set a “market perform” rating for the company. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen downgraded SiriusPoint from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Jefferies Financial Group raised SiriusPoint to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research note on Monday, December 29th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Institutional Investors Weigh In On SiriusPoint

A number of institutional investors have recently added to or reduced their stakes in SPNT. Corient Private Wealth LLC bought a new position in shares of SiriusPoint during the fourth quarter valued at $232,000. State of Tennessee Department of Treasury lifted its holdings in 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 buying an additional 30,348 shares during the period. Empowered Funds LLC grew its position in shares of SiriusPoint by 4.5% in the 4th quarter. Empowered Funds LLC now owns 534,017 shares of the company’s stock valued at $11,690,000 after buying an additional 22,843 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of SiriusPoint in the fourth quarter valued at about $185,000. Finally, Evolve Private Wealth LLC bought a new position in shares of SiriusPoint during the fourth quarter worth about $574,000. 52.79% of the stock is owned by institutional investors.

SiriusPoint Stock Up 8.2%

The stock has a 50-day moving average price of $20.91 and a 200-day moving average price of $19.65. The company has a market capitalization of $2.60 billion, a P/E ratio of 13.99 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57.

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.