Assurant, Inc. to Post Q3 2024 Earnings of $3.62 Per Share, Zacks Research Forecasts (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Zacks Research boosted their Q3 2024 EPS estimates for shares of Assurant in a note issued to investors on Friday, April 5th. Zacks Research analyst T. De now expects that the financial services provider will post earnings of $3.62 per share for the quarter, up from their prior forecast of $3.61. The consensus estimate for Assurant’s current full-year earnings is $16.03 per share.

Several other analysts also recently commented on AIZ. UBS Group raised their price objective on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Piper Sandler upped their price objective on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods downgraded shares of Assurant from an “outperform” rating to a “market perform” rating and increased their price target for the company from $170.00 to $182.00 in a report on Monday, February 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.20.

Assurant Price Performance

NYSE AIZ opened at $178.98 on Monday. The business’s fifty day moving average is $178.03 and its 200 day moving average is $166.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. Assurant has a fifty-two week low of $115.41 and a fifty-two week high of $189.48. The company has a market capitalization of $9.30 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.19 and a beta of 0.50.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.88. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Assurant had a net margin of 5.77% and a return on equity of 18.36%.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, February 5th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 2nd. Assurant’s dividend payout ratio (DPR) is presently 24.04%.

Institutional Trading of Assurant

A number of institutional investors and hedge funds have recently modified their holdings of AIZ. BKM Wealth Management LLC acquired a new position in Assurant in the 4th quarter valued at $25,000. Parkside Financial Bank & Trust grew its stake in Assurant by 353.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Assurant by 104.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. West Tower Group LLC purchased a new position in Assurant in the 4th quarter worth approximately $37,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Assurant during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.