Q3 2024 EPS Estimates for Assurant, Inc. Increased by Analyst (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Analysts at Zacks Research upped their Q3 2024 EPS estimates for Assurant in a research note issued on Monday, August 26th. Zacks Research analyst T. De now anticipates that the financial services provider will post earnings per share of $3.20 for the quarter, up from their prior forecast of $3.19. The consensus estimate for Assurant’s current full-year earnings is $16.04 per share. Zacks Research also issued estimates for Assurant’s Q1 2025 earnings at $4.45 EPS, Q3 2025 earnings at $4.08 EPS, FY2025 earnings at $17.18 EPS and Q1 2026 earnings at $3.70 EPS.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company posted $3.89 earnings per share. Assurant’s revenue was up 7.1% on a year-over-year basis.

A number of other brokerages have also recently issued reports on AIZ. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Bank of America dropped their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Thursday, August 22nd. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group raised their price target on shares of Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.60.

Assurant Stock Performance

Shares of NYSE AIZ opened at $194.17 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $173.64 and its two-hundred day moving average price is $175.17. Assurant has a 52-week low of $136.15 and a 52-week high of $194.74. The stock has a market capitalization of $10.09 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.73 and a beta of 0.54.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.48%. Assurant’s dividend payout ratio is presently 20.10%.

Insider Activity at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Assurant news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in Assurant in the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. boosted its stake in Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares during the period. Assetmark Inc. acquired a new position in Assurant in the 4th quarter worth approximately $44,000. Quarry LP acquired a new position in Assurant in the 4th quarter worth approximately $51,000. Finally, Family Firm Inc. acquired a new position in Assurant in the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.