Q3 2017 Earnings Estimate for Assurant, Inc. Issued By SunTrust Banks (AIZ)
Assurant, Inc. (NYSE:AIZ) – Stock analysts at SunTrust Banks issued their Q3 2017 earnings per share estimates for Assurant in a report released on Wednesday. SunTrust Banks analyst M. Hughes forecasts that the financial services provider will earn ($1.76) per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $115.00 target price on the stock. SunTrust Banks also issued estimates for Assurant’s FY2017 earnings at $3.49 EPS, Q2 2018 earnings at $1.87 EPS and Q4 2018 earnings at $1.89 EPS.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 last year, the business posted $1.42 EPS.
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Separately, BidaskClub raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th.
A number of large investors have recently modified their holdings of the stock. Intl Fcstone Inc. purchased a new position in Assurant during the second quarter valued at approximately $1,373,000. Achmea Investment Management B.V. purchased a new position in Assurant during the second quarter valued at approximately $244,000. Toronto Dominion Bank grew its stake in Assurant by 23.5% during the second quarter. Toronto Dominion Bank now owns 18,570 shares of the financial services provider’s stock valued at $1,925,000 after acquiring an additional 3,539 shares in the last quarter. Oak Associates Ltd. OH grew its stake in Assurant by 14.3% during the second quarter. Oak Associates Ltd. OH now owns 46,350 shares of the financial services provider’s stock valued at $4,806,000 after acquiring an additional 5,800 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in Assurant during the second quarter valued at approximately $754,000. 90.77% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Monday, August 28th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.12 annualized dividend and a yield of 2.21%. 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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