Assurant (NYSE:AIZ) Releases Earnings Results, Beats Estimates By $0.48 EPS

Assurant (NYSE:AIZ) announced its earnings results on Tuesday. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48, Briefing.com reports. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $4.29 earnings per share. Assurant’s revenue was up 7.0% compared to the same quarter last year.

Assurant Trading Up 6.9 %

Shares of AIZ stock opened at $206.46 on Thursday. Assurant has a 52-week low of $158.29 and a 52-week high of $207.24. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a fifty day moving average of $194.70 and a 200-day moving average of $180.94.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.39%. The ex-dividend date was Tuesday, September 3rd. Assurant’s payout ratio is currently 19.19%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. UBS Group lifted their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America lifted their price target on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler lifted their price target on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Assurant presently has an average rating of “Hold” and a consensus price target of $217.00.

Insider Buying and Selling

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

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.