Assurant (NYSE:AIZ - Get Free Report) posted its earnings results on Tuesday. The financial services provider reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $1.13, Zacks reports. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm posted $4.77 earnings per share. Assurant's revenue for the quarter was up 8.0% compared to the same quarter last year. Assurant updated its FY 2025 guidance to 22.390-22.390 EPS.
Assurant Trading Up 0.8%
Shares of NYSE:AIZ traded up $1.57 on Friday, hitting $203.38. 402,948 shares of the company's stock were exchanged, compared to its average volume of 417,944. Assurant has a 12 month low of $170.39 and a 12 month high of $230.55. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 14.73 and a beta of 0.58. The business's 50 day simple moving average is $193.86 and its two-hundred day simple moving average is $199.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.41.
Assurant Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 9th. Assurant's dividend payout ratio (DPR) is 23.17%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Morgan Stanley raised their target price on shares of Assurant from $217.00 to $218.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Assurant currently has a consensus rating of "Moderate Buy" and an average price target of $228.83.
Get Our Latest Report on Assurant
Insider Buying and Selling at Assurant
In related news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the sale, the executive vice president directly owned 11,775 shares in the company, valued at $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.51% of the company's stock.
Institutional Trading of Assurant
Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider's stock worth $222,000 after acquiring an additional 910 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Assurant during the first quarter worth about $203,000. Focus Partners Wealth grew its stake in shares of Assurant by 66.6% during the first quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider's stock worth $556,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Assurant by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider's stock worth $60,987,000 after acquiring an additional 47,548 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.
About Assurant
(
Get Free Report)
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.
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