Zacks Research Forecasts Assurant FY2024 Earnings

Assurant, Inc. (NYSE:AIZ - Free Report) - Stock analysts at Zacks Research issued their FY2024 EPS estimates for Assurant in a research report issued on Tuesday, November 19th. Zacks Research analyst T. De forecasts that the financial services provider will post earnings per share of $15.52 for the year. The consensus estimate for Assurant's current full-year earnings is $15.05 per share. Zacks Research also issued estimates for Assurant's Q4 2024 earnings at $3.66 EPS, Q4 2025 earnings at $4.76 EPS, Q1 2026 earnings at $4.49 EPS, Q2 2026 earnings at $4.83 EPS and FY2026 earnings at $17.56 EPS.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Bank of America boosted their price target 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 increased 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. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research note on Tuesday, November 12th. Finally, UBS Group lifted their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Assurant presently has a consensus rating of "Moderate Buy" and an average target price of $225.20.

Assurant Stock Performance

Shares of AIZ traded up $0.43 during trading hours on Friday, hitting $225.65. The company had a trading volume of 189,387 shares, compared to its average volume of 349,696. The business has a fifty day moving average of $199.45 and a 200-day moving average of $184.02. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.18 and a beta of 0.57. Assurant has a 12 month low of $160.12 and a 12 month high of $226.93.

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

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Assurant's previous quarterly dividend of $0.72. Assurant's payout ratio is 20.54%.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares of the company's stock, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assurant

A number of hedge funds have recently added to or reduced their stakes in AIZ. Pathstone Holdings LLC increased its stake in shares of Assurant by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider's stock valued at $2,006,000 after acquiring an additional 52 shares in the last quarter. US Bancorp DE increased its stake in Assurant by 7.2% in the third quarter. US Bancorp DE now owns 829 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 56 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 59 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider's stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Assurant by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider's stock worth $1,376,000 after purchasing an additional 78 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

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.