Zacks Research Has Positive View of Assurant FY2028 Earnings

Assurant, Inc. (NYSE:AIZ) – Equities research analysts at Zacks Research increased their FY2028 EPS estimates for Assurant in a research report issued on Thursday, March 19th. Zacks Research analyst Team now expects that the financial services provider will earn $24.49 per share for the year, up from their prior estimate of $24.21. The consensus estimate for Assurant’s current full-year earnings is $16.88 per share.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business posted $4.79 earnings per share. Assurant’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Truist Financial raised their price target on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 12th. BMO Capital Markets lowered their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Piper Sandler upped their target price on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $258.17.

Assurant Stock Up 0.3%

NYSE:AIZ opened at $212.40 on Friday. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 12.52 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average price is $228.28 and its two-hundred day moving average price is $224.43. Assurant has a 52-week low of $174.97 and a 52-week high of $246.31.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.7%. Assurant’s dividend payout ratio is 20.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Assurant during the second quarter worth $27,000. Montag A & Associates Inc. bought a new position in shares of Assurant during the fourth quarter worth $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares during the period. Finally, BOKF NA acquired a new position in shares of Assurant in the 3rd quarter valued at $32,000. Institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.