FY2024 EPS Estimates for Assurant, Inc. Increased by Analyst (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Assurant in a research report issued on Wednesday, June 19th. Zacks Research analyst T. De now forecasts that the financial services provider will earn $15.91 per share for the year, up from their previous forecast of $15.88. The consensus estimate for Assurant’s current full-year earnings is $16.20 per share. Zacks Research also issued estimates for Assurant’s Q4 2024 earnings at $4.34 EPS, Q1 2025 earnings at $3.89 EPS and Q1 2026 earnings at $3.95 EPS.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods upped their target price on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. Piper Sandler upped their target price on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.25.

Assurant Stock Up 0.7 %

Shares of AIZ opened at $169.60 on Friday. The firm has a market cap of $8.82 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.68 and a beta of 0.56. The stock has a 50 day simple moving average of $172.69 and a two-hundred day simple moving average of $173.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. Assurant has a 1 year low of $121.51 and a 1 year high of $189.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, topping the consensus estimate of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.70%. Assurant’s dividend payout ratio is presently 20.10%.

Insider Activity at Assurant

In related news, EVP Michael P. Campbell sold 1,304 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the completion of the transaction, the executive vice president now owns 24,586 shares in the company, valued at $4,261,983.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the transaction, the executive vice president now owns 24,586 shares in the company, valued at $4,261,983.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 2,084 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $175.29, for a total value of $365,304.36. Following the completion of the transaction, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock worth $2,248,489 over the last quarter. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Assurant

Several institutional investors and hedge funds have recently modified their holdings of AIZ. UBS Group AG increased its holdings in shares of Assurant by 18.4% during the third quarter. UBS Group AG now owns 39,180 shares of the financial services provider’s stock valued at $5,625,000 after acquiring an additional 6,101 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Assurant by 3.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 246 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Assurant during the third quarter valued at $327,000. CI Investments Inc. boosted its position in shares of Assurant by 107.3% during the third quarter. CI Investments Inc. now owns 2,264 shares of the financial services provider’s stock valued at $325,000 after buying an additional 1,172 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Assurant during the third quarter valued at $3,859,000. 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.