$1.60 Billion in Sales Expected for Assurant, Inc. (AIZ) This Quarter
Brokerages expect Assurant, Inc. (NYSE:AIZ) to announce $1.60 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Assurant’s earnings. Assurant reported sales of $1.69 billion in the same quarter last year, which indicates a negative year over year growth rate of 5.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Assurant will report full-year sales of $1.60 billion for the current fiscal year, with estimates ranging from $6.37 billion to $6.38 billion. For the next financial year, analysts anticipate that the company will post sales of $6.49 billion per share, with estimates ranging from $6.42 billion to $6.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Assurant.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share.
Separately, BidaskClub downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
Institutional investors and hedge funds have recently bought and sold shares of the business. State of Tennessee Treasury Department boosted its holdings in Assurant by 59.9% during the 2nd quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock worth $24,899,000 after acquiring an additional 89,925 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Assurant during the 2nd quarter worth $6,137,000. Dearborn Partners LLC boosted its holdings in Assurant by 2.3% during the 2nd quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock worth $19,862,000 after acquiring an additional 4,242 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in Assurant by 27.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 48,390 shares of the financial services provider’s stock worth $5,018,000 after acquiring an additional 10,320 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Assurant by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 312,924 shares of the financial services provider’s stock worth $32,449,000 after acquiring an additional 3,367 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Assurant (NYSE:AIZ) traded up 0.69% during mid-day trading on Thursday, hitting $95.95. 113,326 shares of the stock were exchanged. Assurant has a 12-month low of $78.50 and a 12-month high of $106.99. The stock’s 50 day moving average price is $95.21 and its 200-day moving average price is $99.34. The stock has a market capitalization of $5.17 billion, a P/E ratio of 12.61 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Monday, August 28th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 24th. Assurant’s 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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