Assurant Inc. (AIZ) Expected to Post Q1 2018 Earnings of $2.03 Per Share
Assurant Inc. (NYSE:AIZ) – Research analysts at DOWLING & PARTN issued their Q1 2018 earnings per share estimates for shares of Assurant in a research report issued to clients and investors on Monday. DOWLING & PARTN analyst G. Ransom expects that the firm will post earnings per share of $2.03 for the quarter. DOWLING & PARTN has a “Neutral” rating on the stock. DOWLING & PARTN also issued estimates for Assurant’s Q2 2018 earnings at $2.04 EPS and Q3 2018 earnings at $2.12 EPS.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. The firm earned $1.80 billion during the quarter, compared to analyst estimates of $1.71 billion. Assurant had a net margin of 4.97% and a return on equity of 8.08%. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share.
A number of other research analysts have also recently weighed in on AIZ. Goldman Sachs Group Inc. cut Assurant to a “buy” rating and set a $95.00 target price on the stock. in a report on Sunday, July 17th. Zacks Investment Research cut Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $77.00 price objective on shares of Assurant in a research note on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $90.60.
Shares of Assurant (NYSE:AIZ) traded down 1.06% during mid-day trading on Thursday, hitting $89.98. The company had a trading volume of 549,370 shares. The stock’s 50-day moving average is $89.19 and its 200-day moving average is $85.36. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 13.28 and a beta of 0.76. Assurant has a 52-week low of $64.36 and a 52-week high of $92.63.
Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock worth $120,471,000 after buying an additional 220,377 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Assurant by 59.3% in the first quarter. Riverhead Capital Management LLC now owns 95,959 shares of the company’s stock worth $7,404,000 after buying an additional 35,738 shares during the last quarter. Altrinsic Global Advisors LLC acquired a new stake in shares of Assurant during the first quarter worth about $32,674,000. AXA raised its stake in shares of Assurant by 4,046.0% in the first quarter. AXA now owns 122,308 shares of the company’s stock worth $9,436,000 after buying an additional 119,358 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Assurant by 48.9% in the first quarter. Rafferty Asset Management LLC now owns 8,961 shares of the company’s stock worth $691,000 after buying an additional 2,944 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP John Andrew Sondej sold 5,000 shares of Assurant stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $86.04, for a total transaction of $430,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Stein sold 2,500 shares of Assurant stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $84.01, for a total value of $210,025.00. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
Assurant Company Profile
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