Zacks Research Estimates Assurant FY2024 Earnings

Assurant, Inc. (NYSE:AIZ) – Zacks Research issued their FY2024 earnings per share 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 $15.41 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.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $4.29 EPS. Assurant’s revenue was up 7.0% compared to the same quarter last year.

Several other research analysts have also recently issued reports on the company. Bank of America lifted their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, UBS Group boosted their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.20.

Assurant Stock Up 0.4 %

Shares of NYSE AIZ opened at $226.15 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. Assurant has a 1 year low of $160.12 and a 1 year high of $227.16. The stock has a market capitalization of $11.60 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a 50-day moving average price of $200.13 and a 200-day moving average price of $184.33.

Institutional Investors Weigh In On Assurant

Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its holdings in shares of Assurant by 1.1% in the third quarter. Toronto Dominion Bank now owns 25,809 shares of the financial services provider’s stock worth $5,132,000 after acquiring an additional 270 shares during the period. Barclays PLC lifted its holdings in Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after purchasing an additional 62,696 shares in the last quarter. LRI Investments LLC boosted its stake in Assurant by 889.8% in the 3rd quarter. LRI Investments LLC now owns 485 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 436 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Assurant by 13.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,322 shares of the financial services provider’s stock valued at $3,246,000 after buying an additional 1,888 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in Assurant by 19.5% during the 3rd quarter. MML Investors Services LLC now owns 2,677 shares of the financial services provider’s stock valued at $532,000 after buying an additional 436 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Assurant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 9th. Assurant’s payout ratio is presently 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.