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

SiriusPoint Ltd. (NYSE:SPNT)’s stock 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 EPS for the quarter, beating the consensus estimate of $0.54 by $0.16. SiriusPoint had a return on equity of 16.64% and a net margin of 14.34%.The company had revenue of $973.70 million for the quarter, compared to the consensus estimate of $773.00 million.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a report on Monday, December 29th. Jefferies Financial Group upgraded SiriusPoint to a “hold” rating in a report on Wednesday, February 4th. Finally, Raymond James Financial started coverage on SiriusPoint in a research report on Friday, January 16th. They issued a “market perform” rating for the company. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Institutional Trading of SiriusPoint

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in SiriusPoint by 20.1% during the first quarter. Royal Bank of Canada now owns 17,589 shares of the company’s stock worth $304,000 after buying an additional 2,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 acquiring an additional 2,480 shares during the last quarter. Goldman Sachs Group Inc. grew its position in SiriusPoint by 223.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock worth $36,079,000 after acquiring an additional 1,440,836 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in SiriusPoint by 15.1% during the 1st 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 raised its position in SiriusPoint by 281.2% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.

SiriusPoint Trading Up 7.1%

The business has a 50 day simple moving average of $20.91 and a 200 day simple moving average of $19.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 5.97 and a beta of 0.68.

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.