FY2024 EPS Estimates for Assurant Boosted by William Blair

Assurant, Inc. (NYSE:AIZ - Free Report) - William Blair upped their FY2024 earnings estimates for Assurant in a note issued to investors on Thursday, November 7th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $15.60 per share for the year, up from their prior forecast of $14.40. The consensus estimate for Assurant's current full-year earnings is $14.13 per share. William Blair also issued estimates for Assurant's Q4 2024 earnings at $3.73 EPS, Q2 2025 earnings at $4.34 EPS, Q3 2025 earnings at $3.03 EPS, Q4 2025 earnings at $5.34 EPS, Q1 2026 earnings at $5.26 EPS and Q3 2026 earnings at $3.08 EPS.

AIZ has been the topic of several other reports. Truist Financial raised their price target on Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America boosted their price target on Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Piper Sandler raised their target price on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a "market perform" rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $221.60.

Assurant Price Performance

Shares of Assurant stock traded up $1.34 during midday trading on Monday, reaching $210.73. The company had a trading volume of 339,112 shares, compared to its average volume of 345,394. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.19 and a beta of 0.57. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. Assurant has a 1-year low of $159.32 and a 1-year high of $214.82. The stock has a fifty day simple moving average of $195.18 and a 200 day simple moving average of $181.43.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $4.29 earnings per share.

Institutional Trading of Assurant

Hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in Assurant by 210.7% during the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider's stock valued at $1,639,000 after purchasing an additional 5,903 shares during the period. SteelPeak Wealth LLC lifted its holdings in Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider's stock worth $2,170,000 after purchasing an additional 11,551 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in Assurant by 608.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider's stock valued at $1,062,000 after buying an additional 4,844 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Assurant by 3,412.0% during the first quarter. Bessemer Group Inc. now owns 14,645 shares of the financial services provider's stock valued at $2,757,000 after buying an additional 14,228 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Assurant by 443.7% in the first quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider's stock worth $2,442,000 after buying an additional 10,587 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Insider Buying and Selling at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company's stock, valued at $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company's stock.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.37%. Assurant's payout ratio is currently 20.54%.

Assurant Company Profile

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.