Assurant, Inc. (NYSE:AIZ) to Post Q2 2024 Earnings of $3.98 Per Share, William Blair Forecasts

Assurant, Inc. (NYSE:AIZ) – Equities research analysts at William Blair lowered their Q2 2024 earnings per share estimates for Assurant in a research note issued to investors on Wednesday, July 10th. William Blair analyst J. Schmitt now forecasts that the financial services provider will earn $3.98 per share for the quarter, down from their prior estimate of $4.19. The consensus estimate for Assurant’s current full-year earnings is $16.20 per share. William Blair also issued estimates for Assurant’s Q4 2024 earnings at $4.62 EPS.

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

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. Bank of America dropped their price target on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Assurant in a 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.60.

Assurant Stock Up 1.1 %

Shares of NYSE AIZ opened at $166.54 on Friday. Assurant has a 52-week low of $124.22 and a 52-week high of $189.48. 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 company’s 50-day simple moving average is $170.32 and its 200-day simple moving average is $172.95. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.61 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Assurant by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 638,334 shares of the financial services provider’s stock worth $91,652,000 after purchasing an additional 85,953 shares during the last quarter. Nordea Investment Management AB raised its stake 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. BKM Wealth Management LLC purchased a new stake in Assurant during the 4th quarter worth about $126,000. Patton Fund Management Inc. acquired a new position in shares of Assurant during the 4th quarter worth about $5,382,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Assurant by 279.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock valued at $30,271,000 after acquiring an additional 132,275 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was 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 of the company’s stock, valued at approximately $648,923.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Dimitry Dirienzo sold 2,084 shares of the stock in a transaction that occurred on 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 owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Francesca Luthi sold 6,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the transaction, the chief operating officer now directly owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,788 shares of company stock worth $2,248,489. 0.53% of the stock is owned by corporate insiders.

Assurant Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.73%. Assurant’s payout ratio is 20.10%.

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.