DOWLING & PARTN Forecasts Assurant FY2028 Earnings

Assurant, Inc. (NYSE:AIZ) – Stock analysts at DOWLING & PARTN issued their FY2028 EPS estimates for Assurant in a research note issued on Tuesday, September 29th. DOWLING & PARTN analyst D. Lukpanov forecasts that the financial services provider will earn $24.00 per share for the year. The consensus estimate for Assurant’s current full-year earnings is $22.32 per share.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $5.56 EPS.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods raised their price target on Assurant from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Truist Financial lifted their price target on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler increased their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $327.14.

Assurant Stock Performance

Shares of Assurant stock opened at $267.51 on Thursday. The business has a 50-day simple moving average of $280.42 and a 200-day simple moving average of $258.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. Assurant has a one year low of $206.03 and a one year high of $303.94. The company has a market cap of $13.19 billion, a PE ratio of 12.77 and a beta of 0.52.

Institutional Investors Weigh In On Assurant

A number of institutional investors and hedge funds have recently bought and sold shares of AIZ. BlackRock Inc. acquired a new position in shares of Assurant in the 2nd quarter valued at $1,345,211,000. Bank of New York Mellon Corp acquired a new stake in Assurant during the 2nd quarter worth $1,269,591,000. Bank of America Corp DE acquired a new stake in Assurant during the 2nd quarter worth $269,635,000. Norges Bank purchased a new position in Assurant during the 4th quarter worth $161,574,000. Finally, Deutsche Bank AG purchased a new position in Assurant during the 2nd quarter worth $76,718,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Biju Nair sold 3,931 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the transaction, the executive vice president directly owned 24,247 shares of the company’s stock, valued at $7,333,747.62. This trade represents a 13.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were issued a $0.88 dividend. The ex-dividend date was Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Assurant’s dividend payout ratio is presently 16.81%.

About Assurant

Assurant, Inc is a global business services company that provides insurance products and related services supporting major purchases and everyday needs. Its offerings are distributed through partnerships with mobile carriers, retailers, automotive manufacturers and dealers, financial institutions, housing providers, and other businesses.

Through its Global Lifestyle business, Assurant provides mobile device protection, extended service contracts, vehicle service contracts, and related protection products.