Assurant, Inc. to Post Q2 2024 Earnings of $4.02 Per Share, Zacks Research Forecasts (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Stock analysts at Zacks Research boosted their Q2 2024 earnings estimates for shares of Assurant in a report released on Tuesday, May 21st. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings of $4.02 per share for the quarter, up from their previous forecast of $3.98. The consensus estimate for Assurant’s current full-year earnings is $16.21 per share. Zacks Research also issued estimates for Assurant’s Q4 2024 earnings at $4.33 EPS, FY2024 earnings at $15.88 EPS and Q1 2025 earnings at $3.56 EPS.

AIZ has been the subject of several other reports. Keefe, Bruyette & Woods lifted 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 price objective on shares of Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, UBS Group increased their price objective on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.25.

Assurant Trading Down 1.6 %

Assurant stock opened at $166.76 on Wednesday. The stock has a 50-day simple moving average of $177.40 and a 200 day simple moving average of $172.18. The stock has a market capitalization of $8.67 billion, a P/E ratio of 11.64, a PEG ratio of 1.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. Assurant has a 52 week low of $118.45 and a 52 week high of $189.48.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.73%. Assurant’s dividend payout ratio is currently 20.10%.

Insider Activity

In other news, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total value of $1,181,612.00. Following the completion of the sale, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares of the company’s stock, valued at approximately $3,484,710.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the transaction, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,788 shares of company stock valued at $2,248,489. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assurant

A number of large investors have recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in Assurant during the 4th quarter worth $25,000. Harvest Fund Management Co. Ltd raised its position in Assurant by 104.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Assurant in the 4th quarter valued at about $40,000. Assetmark Inc. acquired a new stake in Assurant during the 4th quarter valued at approximately $44,000. Finally, Quarry LP bought a new position in Assurant during the fourth quarter worth $51,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.