Assurant, Inc. (NYSE:AIZ) Expected to Post Quarterly Sales of $1.58 Billion
Analysts predict that Assurant, Inc. (NYSE:AIZ) will announce $1.58 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Assurant’s earnings, with the lowest sales estimate coming in at $1.56 billion and the highest estimate coming in at $1.62 billion. Assurant reported sales of $1.65 billion during the same quarter last year, which would suggest a negative year over year growth rate of 4.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Assurant will report full year sales of $1.58 billion for the current financial year, with estimates ranging from $6.34 billion to $6.48 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.60 billion per share, with estimates ranging from $6.53 billion to $6.68 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Assurant.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.36. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion. Assurant had a net margin of 7.05% and a return on equity of 6.51%.
Separately, BidaskClub downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Assurant has a consensus rating of “Hold” and an average target price of $98.33.
Assurant (AIZ) traded down 0.28% on Friday, hitting $105.41. 308,386 shares of the stock traded hands. The firm has a market capitalization of $5.78 billion, a PE ratio of 12.86 and a beta of 0.77. Assurant has a 52 week low of $78.50 and a 52 week high of $106.47. The stock has a 50 day moving average of $103.09 and a 200 day moving average of $98.80.
In related news, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the sale, the executive vice president now owns 55,978 shares in the company, valued at $5,762,375.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in Assurant by 68.0% in the first quarter. Nationwide Fund Advisors now owns 142,398 shares of the financial services provider’s stock worth $13,623,000 after buying an additional 57,644 shares during the period. State of Alaska Department of Revenue increased its stake in Assurant by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock worth $175,000 after buying an additional 91 shares during the period. Nisa Investment Advisors LLC increased its stake in Assurant by 20.0% in the first quarter. Nisa Investment Advisors LLC now owns 42,430 shares of the financial services provider’s stock worth $4,059,000 after buying an additional 7,080 shares during the period. Telemus Capital LLC increased its stake in Assurant by 16.9% in the first quarter. Telemus Capital LLC now owns 3,677 shares of the financial services provider’s stock worth $352,000 after buying an additional 532 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Assurant by 5.0% in the first quarter. Capstone Asset Management Co. now owns 18,186 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 92.25% of the company’s stock.
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Assurant Company Profile
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).
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