Brokers Offer Predictions for Assurant, Inc.’s Q3 2024 Earnings (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Analysts at William Blair boosted their Q3 2024 EPS estimates for Assurant in a note issued to investors on Wednesday, July 10th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $3.12 per share for the quarter, up from their prior estimate of $3.03. The consensus estimate for Assurant’s current full-year earnings is $16.20 per share.

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

Several other research analysts have also commented on the stock. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. Finally, Bank of America lowered their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and an average target price of $204.60.

Assurant Stock Performance

Shares of AIZ stock opened at $168.23 on Thursday. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.64 and a beta of 0.54. The stock has a fifty day moving average of $170.16 and a 200 day moving average of $172.91. 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.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, June 10th. Assurant’s dividend payout ratio is presently 20.10%.

Insider Buying and Selling

In other news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the transaction, the insider now directly owns 19,786 shares in the company, valued at $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 2,084 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock worth $2,248,489 in the last three months. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Assurant

A number of hedge funds have recently bought and sold shares of AIZ. Wellington Management Group LLP lifted its stake in shares of Assurant by 15.6% in the third quarter. Wellington Management Group LLP now owns 638,334 shares of the financial services provider’s stock worth $91,652,000 after buying an additional 85,953 shares in the last quarter. Nordea Investment Management AB boosted its stake in Assurant by 8.0% during the 4th quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock valued at $30,586,000 after purchasing an additional 13,395 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Assurant in the 4th quarter worth $126,000. Patton Fund Management Inc. purchased a new position in shares of Assurant in the fourth quarter worth $5,382,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Assurant by 279.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock valued at $30,271,000 after purchasing an additional 132,275 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

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.