William Blair Research Analysts Lift Earnings Estimates for Assurant, Inc. (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Stock analysts at William Blair upped their Q3 2024 EPS estimates for shares of Assurant in a report issued on Wednesday, July 10th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $3.12 for the quarter, up from their prior estimate of $3.03. The consensus estimate for Assurant’s current full-year earnings is $16.20 per share.

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

A number of other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. Bank of America dropped their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 target price on shares of Assurant in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $204.60.

Assurant Stock Performance

NYSE:AIZ opened at $168.23 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. The stock has a market cap of $8.75 billion, a P/E ratio of 11.74, a PEG ratio of 1.64 and a beta of 0.54. The stock has a 50 day simple moving average of $170.16 and a 200 day simple moving average of $172.91. Assurant has a 1-year low of $124.22 and a 1-year high of $189.48.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 annualized dividend and a yield of 1.71%. Assurant’s dividend payout ratio is 20.10%.

Insiders Place Their Bets

In other news, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were 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 directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $4,261,983.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Dimitry Dirienzo sold 2,084 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the completion of the sale, the chief accounting officer now directly owns 3,702 shares in the company, valued at $648,923.58. The disclosure for this sale can be found here. Insiders have sold 12,788 shares of company stock worth $2,248,489 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its position in Assurant by 8.0% in the fourth quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock valued at $30,586,000 after buying an additional 13,395 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Assurant during the 1st quarter valued at $1,213,000. Naples Money Management LLC bought a new stake in Assurant during the 4th quarter worth $1,988,000. Truist Financial Corp increased its holdings in Assurant by 305.5% in the 4th quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Assurant by 1,035.8% in the fourth quarter. Teacher Retirement System of Texas now owns 51,011 shares of the financial services provider’s stock valued at $8,595,000 after purchasing an additional 46,520 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

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.