Equities research analysts expect Assurant, Inc. (NYSE:AIZ – Get Rating) to post sales of $2.65 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Assurant’s earnings, with the lowest sales estimate coming in at $2.62 billion and the highest estimate coming in at $2.71 billion. Assurant posted sales of $2.53 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to report its next quarterly 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 expect that the company 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 an average based on a survey of sell-side research analysts that that provide coverage for Assurant.
Assurant (NYSE:AIZ – Get Rating) last issued its quarterly earnings data 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. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.62 billion. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 EPS.
In other Assurant news, CAO Francesca Luthi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $181.81, for a total transaction of $727,240.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Lonergan sold 2,200 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $183.19, for a total transaction of $403,018.00. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. bought a new position in Assurant during the 3rd quarter valued at about $25,000. Tcwp LLC bought a new position in shares of Assurant in the 1st quarter worth approximately $27,000. Parkside Financial Bank & Trust lifted its stake in shares of Assurant by 353.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 138 shares during the period. Parallel Advisors LLC lifted its stake in shares of Assurant by 197.2% in the 1st quarter. Parallel Advisors LLC now owns 211 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 140 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Assurant by 453.2% in the 1st quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.
Shares of NYSE:AIZ traded up $2.27 during midday trading on Monday, reaching $181.62. The company’s stock had a trading volume of 310,152 shares, compared to its average volume of 424,188. The firm has a 50 day moving average of $182.15 and a 200-day moving average of $166.33. The firm has a market capitalization of $9.82 billion, a P/E ratio of 7.94, a PEG ratio of 0.82 and a beta of 0.56. The company has a quick ratio of 0.42, a current ratio of 0.25 and a debt-to-equity ratio of 0.44. Assurant has a 12-month low of $144.18 and a 12-month high of $194.12.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 20th. Investors of record on Tuesday, May 31st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, May 27th. Assurant’s dividend payout ratio (DPR) is 11.89%.
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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