Zacks Research Forecasts Assurant FY2024 Earnings

Assurant, Inc. (NYSE:AIZ) – Zacks Research issued their FY2024 earnings per share estimates for shares of Assurant in a report issued on Tuesday, November 19th. Zacks Research analyst T. De anticipates 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 $15.05 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 released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the business posted $4.29 EPS. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis.

Several other research analysts also recently weighed in on AIZ. Piper Sandler boosted their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group boosted their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods boosted their target price on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their target price on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Assurant Trading Up 0.4 %

Shares of NYSE:AIZ opened at $226.15 on Friday. Assurant has a 12-month low of $160.12 and a 12-month high of $227.16. The business’s fifty day simple moving average is $199.45 and its 200-day simple moving average is $184.02. The company has a market capitalization of $11.60 billion, a PE ratio of 16.06, a P/E/G ratio of 2.18 and a beta of 0.57. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Assurant

Several institutional investors and hedge funds have recently modified their holdings of AIZ. Mizuho Securities USA LLC lifted its holdings in shares of Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after buying an additional 460,937 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after buying an additional 255,471 shares during the period. World Investment Advisors LLC acquired a new position in Assurant in the 3rd quarter worth about $48,430,000. International Assets Investment Management LLC acquired a new position in Assurant in the 3rd quarter worth about $284,730,000. Finally, Point72 Asset Management L.P. acquired a new position in Assurant in the 3rd quarter worth about $26,630,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insiders Place Their Bets

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

Assurant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.41%. This is a boost from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is currently 20.54%.

About Assurant

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.