FY2024 EPS Estimates for Assurant Raised by William Blair

Assurant, Inc. (NYSE:AIZ) – Equities research analysts at William Blair upped their FY2024 earnings per share estimates for Assurant in a report released on Thursday, November 7th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $15.60 per share for the year, up from their prior estimate of $14.40. The consensus estimate for Assurant’s current full-year earnings is $15.05 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.

Assurant (NYSE:AIZ) 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. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $4.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis.

AIZ has been the subject of several other research reports. Piper Sandler boosted their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial raised their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. 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 report on Wednesday, August 14th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Assurant Price Performance

Assurant stock opened at $210.73 on Monday. The business’s fifty day moving average is $195.18 and its two-hundred day moving average is $181.43. The firm has a market cap of $10.91 billion, a P/E ratio of 15.03, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.66. Assurant has a 52 week low of $159.32 and a 52 week high of $214.82.

Institutional Investors Weigh In On Assurant

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in Assurant in the second quarter valued at $31,000. Huntington National Bank increased its position in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Assurant during the third quarter valued at approximately $56,000. Finally, Family Firm Inc. bought a new position in Assurant in the second quarter valued at approximately $51,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend 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.