Equities research analysts predict that Assurant, Inc. (NYSE:AIZ) will announce $1.59 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Assurant’s earnings. The highest sales estimate is $1.59 billion and the lowest is $1.58 billion. Assurant reported sales of $1.70 billion during the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The firm is scheduled to report its next earnings results after the market closes on Thursday, February 8th.
On average, analysts expect that Assurant will report full year sales of $1.59 billion for the current fiscal year, with estimates ranging from $6.31 billion to $6.32 billion. For the next year, analysts anticipate that the firm will post sales of $6.66 billion per share, with estimates ranging from $6.40 billion to $6.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Assurant.
Assurant (NYSE:AIZ) last released its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.39. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $1.00 EPS. Assurant’s revenue for the quarter was down 13.5% on a year-over-year basis.
Assurant (NYSE AIZ) traded down $0.19 during midday trading on Monday, hitting $94.08. The stock had a trading volume of 317,300 shares, compared to its average volume of 393,100. Assurant has a 12 month low of $86.00 and a 12 month high of $106.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $5,070.00, a price-to-earnings ratio of 22.51, a PEG ratio of 0.65 and a beta of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Monday, February 26th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, February 23rd. Assurant’s payout ratio is 53.59%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Assurant by 1.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,301 shares of the financial services provider’s stock valued at $653,000 after purchasing an additional 85 shares during the last quarter. Clinton Group Inc. raised its position in Assurant by 2.6% during the 2nd quarter. Clinton Group Inc. now owns 14,259 shares of the financial services provider’s stock valued at $1,479,000 after purchasing an additional 363 shares during the last quarter. Rockland Trust Co. raised its position in Assurant by 5.6% during the 4th quarter. Rockland Trust Co. now owns 10,410 shares of the financial services provider’s stock valued at $1,050,000 after purchasing an additional 553 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Assurant by 2.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,026 shares of the financial services provider’s stock valued at $2,390,000 after purchasing an additional 695 shares during the last quarter. Finally, Kwmg LLC raised its position in Assurant by 4.9% during the 3rd quarter. Kwmg LLC now owns 18,577 shares of the financial services provider’s stock valued at $1,774,000 after purchasing an additional 863 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.
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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