Zacks: Brokerages Expect Assurant, Inc. (NYSE:AIZ) Will Post Earnings of $1.42 Per Share
Equities research analysts expect Assurant, Inc. (NYSE:AIZ) to announce earnings of $1.42 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Assurant’s earnings, with the lowest EPS estimate coming in at $1.37 and the highest estimate coming in at $1.47. Assurant posted earnings per share of $1.00 in the same quarter last year, which suggests a positive year over year growth rate of 42%. The company is scheduled to report its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Assurant will report full year earnings of $6.57 per share for the current year, with EPS estimates ranging from $6.35 to $6.72. For the next financial year, analysts expect that the company will report earnings of $7.17 per share, with EPS estimates ranging from $7.05 to $7.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Assurant.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis.
Separately, BidaskClub raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Assurant has a consensus rating of “Hold” and an average price target of $98.33.
In other Assurant news, EVP Christopher J. Pagano sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $97.75, for a total value of $195,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher J. Pagano sold 7,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was 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 directly owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AIZ. Teachers Advisors LLC increased its stake in Assurant by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 75,649 shares of the financial services provider’s stock valued at $7,025,000 after buying an additional 2,832 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Assurant during the fourth quarter valued at $384,000. Macquarie Group Ltd. increased its stake in Assurant by 3.4% in the fourth quarter. Macquarie Group Ltd. now owns 21,500 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 700 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Assurant by 0.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,248 shares of the financial services provider’s stock valued at $4,616,000 after buying an additional 321 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its stake in Assurant by 317.1% in the first quarter. Contravisory Investment Management Inc. now owns 1,318 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,002 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
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Assurant (NYSE:AIZ) traded up 1.718% during midday trading on Tuesday, reaching $105.675. The company’s stock had a trading volume of 94,584 shares. The stock has a 50-day moving average price of $104.39 and a 200 day moving average price of $99.46. Assurant has a 12 month low of $78.50 and a 12 month high of $106.99. The company has a market cap of $5.84 billion, a PE ratio of 13.888 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.04%. Assurant’s dividend payout ratio is currently 27.89%.
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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