FY2028 EPS Estimates for Assurant Boosted by Zacks Research

Assurant, Inc. (NYSE:AIZ) – Analysts at Zacks Research raised their FY2028 earnings per share estimates for Assurant in a report released on Thursday, March 19th. Zacks Research analyst Team now expects that the financial services provider will post earnings per share of $24.49 for the year, up from their previous estimate of $24.21. The consensus estimate for Assurant’s current full-year earnings is $16.88 per share.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, beating the consensus estimate of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm earned $4.79 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year.

A number of other analysts have also recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Truist Financial boosted their price objective on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets reduced their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Piper Sandler raised their target price on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.17.

Assurant Stock Performance

AIZ opened at $212.40 on Friday. The company’s 50 day moving average is $228.28 and its 200 day moving average is $224.36. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 12.52 and a beta of 0.58. Assurant has a 12-month low of $174.97 and a 12-month high of $246.31.

Institutional Trading of Assurant

Several hedge funds have recently made changes to their positions in AIZ. Bank of New York Mellon Corp grew its holdings in shares of Assurant by 23.7% during the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after buying an additional 959,259 shares during the last quarter. Norges Bank purchased a new position in Assurant in the 4th quarter worth $161,574,000. Qube Research & Technologies Ltd lifted its position in Assurant by 482.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock worth $122,805,000 after acquiring an additional 515,127 shares during the period. Voya Investment Management LLC lifted its position in Assurant by 685.2% during the 3rd quarter. Voya Investment Management LLC now owns 452,293 shares of the financial services provider’s stock worth $97,851,000 after acquiring an additional 394,694 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Assurant by 676.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,240 shares of the financial services provider’s stock valued at $57,862,000 after purchasing an additional 209,300 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, February 17th. Assurant’s payout ratio is currently 20.74%.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.