Zacks Research Issues Positive Outlook for Assurant Earnings

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

Several other analysts also recently commented on the company. Keefe, Bruyette & Woods raised their price objective on Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Truist Financial increased their price target on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, BMO Capital Markets cut their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $258.17.

Assurant Trading Down 0.2%

Shares of NYSE AIZ opened at $211.63 on Friday. Assurant has a twelve month low of $174.97 and a twelve month high of $246.31. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average is $228.80 and its 200-day moving average is $224.38.

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

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors 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 yield of 1.7%. Assurant’s dividend payout ratio is presently 20.74%.

Hedge Funds Weigh In On Assurant

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of 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 about $27,000. Montag A & Associates Inc. acquired a new stake in Assurant in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its stake in 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 acquiring an additional 59 shares in the last quarter. Finally, BOKF NA acquired a new position in Assurant during the 3rd quarter worth approximately $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.