Equities analysts expect Assurant, Inc. (NYSE:AIZ – Get Rating) to report $2.65 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Assurant’s earnings. The lowest sales estimate is $2.62 billion and the highest is $2.71 billion. Assurant reported sales of $2.53 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The company is expected to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Assurant will report full-year sales of $10.56 billion for the current year, with estimates ranging from $10.47 billion to $10.73 billion. For the next fiscal year, analysts forecast that the business will report sales of $11.25 billion, with estimates ranging from $11.03 billion to $11.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Assurant.
Assurant (NYSE:AIZ – Get Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.98. Assurant had a return on equity of 11.23% and a net margin of 13.23%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $2.47 EPS. Assurant’s revenue for the quarter was up 2.1% compared to the same quarter last year.
Assurant stock traded up $2.27 during midday trading on Monday, reaching $181.62. The stock had a trading volume of 310,152 shares, compared to its average volume of 424,188. The firm’s fifty day simple moving average is $182.15 and its 200-day simple moving average is $166.33. Assurant has a 1-year low of $144.18 and a 1-year high of $194.12. The stock has a market capitalization of $9.82 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 0.82 and a beta of 0.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.42 and a current ratio of 0.25.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Investors of record on Tuesday, May 31st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, May 27th. Assurant’s payout ratio is presently 11.89%.
In related news, CAO Francesca Luthi sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $181.81, for a total value of $727,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Lonergan sold 2,200 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $183.19, for a total value of $403,018.00. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIZ. Morgan Stanley boosted its stake in Assurant by 8.2% in the 2nd quarter. Morgan Stanley now owns 225,092 shares of the financial services provider’s stock valued at $35,154,000 after purchasing an additional 17,078 shares during the period. PNC Financial Services Group Inc. boosted its stake in Assurant by 4.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,063 shares of the financial services provider’s stock valued at $1,588,000 after purchasing an additional 435 shares during the period. Advisor Group Holdings Inc. boosted its stake in Assurant by 11.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,678 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 166 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Assurant by 7.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,551 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 252 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Assurant during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 91.36% of the company’s stock.
Assurant Company Profile (Get Rating)
Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.
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