Equities analysts forecast that Assurant, Inc. (NYSE:AIZ) will post sales of $1.59 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Assurant’s earnings, with the lowest sales estimate coming in at $1.58 billion and the highest estimate coming in at $1.59 billion. Assurant posted sales of $1.70 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.5%. The firm is scheduled to issue its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Assurant will report full-year sales of $1.59 billion for the current year, with estimates ranging from $6.31 billion to $6.32 billion. For the next financial year, analysts forecast that the business will report sales of $6.66 billion per share, with estimates ranging from $6.40 billion to $6.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Assurant.
Assurant (NYSE:AIZ) last announced its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.39. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Assurant had a return on equity of 3.55% and a net margin of 3.67%. Assurant’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS.
Separately, SunTrust Banks restated a “buy” rating and set a $115.00 price objective on shares of Assurant in a report on Thursday, October 12th.
Several hedge funds have recently bought and sold shares of AIZ. Vanguard Group Inc. boosted its holdings in Assurant by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,990,787 shares of the financial services provider’s stock valued at $621,185,000 after acquiring an additional 20,675 shares during the last quarter. BlackRock Inc. boosted its holdings in Assurant by 1.2% in the second quarter. BlackRock Inc. now owns 3,799,693 shares of the financial services provider’s stock valued at $393,989,000 after acquiring an additional 44,660 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Assurant by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,134,628 shares of the financial services provider’s stock valued at $221,344,000 after acquiring an additional 54,580 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Assurant by 2.8% in the third quarter. Wedge Capital Management L L P NC now owns 1,194,834 shares of the financial services provider’s stock valued at $114,131,000 after acquiring an additional 33,016 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Assurant by 9,105.8% in the second quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock valued at $65,912,000 after acquiring an additional 628,754 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.
Shares of Assurant (NYSE:AIZ) traded up $0.54 during trading hours on Friday, reaching $100.05. The company’s stock had a trading volume of 419,200 shares, compared to its average volume of 414,600. The firm has a market cap of $5,450.00, a PE ratio of 23.94, a PEG ratio of 0.71 and a beta of 0.78. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.26. Assurant has a 52-week low of $86.00 and a 52-week high of $106.99.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Monday, November 27th were issued a dividend of $0.56 per share. This is a boost from Assurant’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 24th. This represents a $2.24 annualized dividend and a dividend yield of 2.24%. Assurant’s dividend payout ratio (DPR) is 53.59%.
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Assurant Company Profile
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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