Assurant, Inc. (NYSE:AIZ) Expected to Announce Earnings of $1.58 Per Share
Wall Street analysts forecast that Assurant, Inc. (NYSE:AIZ) will announce earnings per share of $1.58 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Assurant’s earnings, with the highest EPS estimate coming in at $1.61 and the lowest estimate coming in at $1.56. Assurant posted earnings per share of $1.42 during the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Assurant will report full year earnings of $6.55 per share for the current financial year, with EPS estimates ranging from $6.35 to $6.67. For the next fiscal year, analysts expect that the company will report earnings of $7.22 per share, with EPS estimates ranging from $7.20 to $7.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Assurant.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.51 by $0.36. Assurant had a return on equity of 6.51% and a net margin of 7.05%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion.
Separately, BidaskClub raised Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Assurant presently has an average rating of “Hold” and an average price target of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now directly owns 55,978 shares in the company, valued at $5,762,375.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.83% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Savant Capital LLC boosted its stake in shares of Assurant by 0.4% in the first quarter. Savant Capital LLC now owns 2,650 shares of the financial services provider’s stock worth $254,000 after buying an additional 10 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Assurant by 1.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,653 shares of the financial services provider’s stock valued at $154,000 after buying an additional 29 shares in the last quarter. ProShare Advisors LLC boosted its stake in Assurant by 0.4% in the first quarter. ProShare Advisors LLC now owns 12,937 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 56 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Assurant by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,216 shares of the financial services provider’s stock valued at $593,000 after buying an additional 58 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Assurant by 1.2% in the first quarter. GHP Investment Advisors Inc. now owns 5,468 shares of the financial services provider’s stock valued at $523,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
Shares of Assurant (AIZ) opened at 104.54 on Wednesday. The company’s 50 day moving average price is $102.66 and its 200 day moving average price is $98.70. Assurant has a 12 month low of $78.50 and a 12 month high of $106.47. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 12.75 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, May 25th. This represents a $2.12 annualized dividend and a yield of 2.03%. Assurant’s payout ratio is 26.04%.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Assurant Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant Inc. and related companies with MarketBeat.com's FREE daily email newsletter.