Assurant (AIZ) to Release Earnings on Tuesday

Assurant (NYSE:AIZ - Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of $3.29 per share for the quarter. Assurant has set its FY24 guidance at ~18.84-19.01 EPS.Investors interested in listening to the company's conference call can do so using this link.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.50. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $3.89 EPS. On average, analysts expect Assurant to post $17 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Assurant Stock Performance

Shares of AIZ stock traded down $0.68 during trading hours on Tuesday, reaching $193.55. 327,061 shares of the company's stock were exchanged, compared to its average volume of 345,232. The company has a market cap of $10.06 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.61 and a beta of 0.57. The company's 50 day moving average is $194.31 and its two-hundred day moving average is $179.89. Assurant has a 1 year low of $146.39 and a 1 year high of $201.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant's dividend payout ratio (DPR) is presently 20.10%.

Insider Activity

In other news, CAO Dimitry Dirienzo sold 550 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company's stock, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares of the company's stock, valued at $593,962.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AIZ. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. UBS Group boosted their price objective on Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Bank of America lifted their target price on Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Assurant from $186.00 to $194.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Assurant has an average rating of "Moderate Buy" and an average price target of $214.60.

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.