Assurant, Inc. (AIZ) Expected to Earn FY2017 Earnings of $6.69 Per Share
Assurant, Inc. (NYSE:AIZ) – Equities research analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of Assurant in a report issued on Wednesday. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will post earnings of $6.69 per share for the year, up from their previous estimate of $6.63. SunTrust Banks also issued estimates for Assurant’s Q1 2018 earnings at $1.89 EPS, Q2 2018 earnings at $1.91 EPS, Q3 2018 earnings at $1.52 EPS and Q4 2018 earnings at $1.94 EPS.
Separately, BidaskClub lowered Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Assurant (NYSE AIZ) opened at 87.74 on Thursday. Assurant has a 1-year low of $78.50 and a 1-year high of $106.99. The stock has a market cap of $4.73 billion, a PE ratio of 11.53 and a beta of 0.80. The firm’s 50-day moving average price is $100.92 and its 200 day moving average price is $100.03.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The business’s revenue for the quarter was down 11.0% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, August 24th. Assurant’s dividend payout ratio is currently 27.89%.
In other news, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the sale, the executive vice president now owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in Assurant in the 1st quarter valued at approximately $122,000. State of Alaska Department of Revenue raised its position in Assurant by 5.2% in the 1st quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock valued at $175,000 after buying an additional 91 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Assurant in the 1st quarter valued at approximately $213,000. Atria Investments LLC acquired a new stake in Assurant in the 2nd quarter valued at approximately $214,000. Finally, Thrivent Financial For Lutherans acquired a new stake in Assurant in the 2nd quarter valued at approximately $216,000. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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