Brokerages Anticipate Assurant, Inc. (NYSE:AIZ) to Announce $3.19 EPS

Equities analysts expect that Assurant, Inc. (NYSE:AIZGet Rating) will report $3.19 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Assurant’s earnings, with the highest EPS estimate coming in at $3.20 and the lowest estimate coming in at $3.17. Assurant posted earnings of $2.99 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Assurant will report full year earnings of $12.88 per share for the current year, with EPS estimates ranging from $12.70 to $13.13. For the next fiscal year, analysts expect that the business will post earnings of $14.55 per share, with EPS estimates ranging from $14.25 to $14.78. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Assurant.

Assurant (NYSE:AIZGet Rating) last issued its earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 EPS for the quarter, beating the consensus estimate of $2.86 by $0.89. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis.

Several equities research analysts have commented on the stock. Truist Financial upped their target price on shares of Assurant from $210.00 to $220.00 in a research note on Friday, March 25th. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th. Finally, Morgan Stanley upped their target price 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $193.48.

NYSE:AIZ traded up $2.03 during trading hours on Friday, hitting $181.41. The stock had a trading volume of 476,389 shares, compared to its average volume of 485,824. Assurant has a one year low of $144.18 and a one year high of $194.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.42 and a current ratio of 0.40. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 0.82 and a beta of 0.56. The business’s 50 day moving average is $183.93 and its 200-day moving average is $167.63.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, May 27th. Assurant’s dividend payout ratio (DPR) is presently 11.89%.

In related news, CAO Francesca Luthi sold 4,000 shares of the stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $181.81, for a total transaction of $727,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Lonergan sold 2,200 shares of the 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. 0.39% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC acquired a new position in Assurant during the first quarter worth $231,000. Icon Advisers Inc. Co. lifted its stake in Assurant by 14.4% in the first quarter. Icon Advisers Inc. Co. now owns 13,500 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 1,700 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Assurant in the first quarter valued at $77,000. The Manufacturers Life Insurance Company lifted its stake in Assurant by 1.9% in the first quarter. The Manufacturers Life Insurance Company now owns 46,514 shares of the financial services provider’s stock valued at $8,458,000 after acquiring an additional 872 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Assurant by 19.3% in the first quarter. BNP Paribas Arbitrage SA now owns 63,306 shares of the financial services provider’s stock valued at $11,511,000 after acquiring an additional 10,249 shares during the last quarter. Institutional investors and hedge funds own 91.36% of the company’s stock.

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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