Analysts Expect Assurant, Inc. (NYSE:AIZ) Will Post Quarterly Sales of $2.65 Billion

Brokerages expect Assurant, Inc. (NYSE:AIZGet Rating) to announce sales of $2.65 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Assurant’s earnings, with the lowest sales estimate coming in at $2.62 billion and the highest estimate coming in at $2.71 billion. Assurant reported sales of $2.53 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Assurant will report full-year sales of $10.56 billion for the current financial year, with estimates ranging from $10.47 billion to $10.73 billion. For the next financial year, analysts anticipate that the company will post sales of $11.30 billion, with estimates ranging from $11.15 billion to $11.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Assurant.

Assurant (NYSE:AIZGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 EPS for the quarter, beating the consensus estimate of $2.77 by $0.98. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted $2.47 earnings per share. Assurant’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Several research analysts recently commented on the stock. UBS Group cut their price target on shares of Assurant from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, January 12th. Truist Financial lifted their price objective on shares of Assurant from $210.00 to $220.00 in a research note on Friday, March 25th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th. Finally, Morgan Stanley lifted their price objective on shares of Assurant from $197.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Assurant presently has an average rating of “Buy” and a consensus price target of $195.74.

In other Assurant news, CAO Francesca Luthi sold 4,000 shares of Assurant stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $181.81, for a total value of $727,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Lonergan sold 2,200 shares of Assurant stock in a transaction on Monday, March 28th. The stock was sold at an average price of $183.19, for a total transaction of $403,018.00. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of Assurant during the first quarter valued at $70,137,000. Balentine LLC raised its stake in shares of Assurant by 302.0% during the first quarter. Balentine LLC now owns 5,214 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 3,917 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Assurant during the first quarter valued at about $569,000. KBC Group NV raised its stake in shares of Assurant by 38.4% during the first quarter. KBC Group NV now owns 6,358 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 1,764 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Assurant by 22.1% during the first quarter. IFM Investors Pty Ltd now owns 10,870 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 1,964 shares in the last quarter. 91.36% of the stock is owned by hedge funds and other institutional investors.

NYSE AIZ opened at $188.58 on Monday. Assurant has a one year low of $144.18 and a one year high of $194.12. The company’s 50 day moving average price is $180.91 and its 200 day moving average price is $165.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.42 and a current ratio of 0.25. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 0.87 and a beta of 0.56.

Assurant Company Profile (Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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Earnings History and Estimates for Assurant (NYSE:AIZ)

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