Assurant (NYSE:AIZ) Posts Earnings Results, Beats Expectations By $1.13 EPS

Key Points

• Assurant reported a quarterly earnings per share of $5.56, exceeding the consensus estimate of $4.48 by $1.08.
• The company announced a quarterly dividend of $0.80 per share, with a yield of 1.7% and a payout ratio of 24.94%.
• Assurant's stock was rated as a "Moderate Buy" with a consensus target price of $228.83 following several rating updates from analysts.

Assurant (NYSE:AIZ - Get Free Report) posted its quarterly 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 return on equity of 16.71% and a net margin of 5.83%. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the prior year, the business earned $4.77 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Assurant updated its FY 2025 guidance to 22.390-22.390 EPS.

Assurant Stock Down 3.7%

NYSE:AIZ traded down $7.84 during trading hours on Thursday, hitting $202.20. The stock had a trading volume of 275,018 shares, compared to its average volume of 490,362. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.40. Assurant has a 1-year low of $169.38 and a 1-year high of $230.55. The business has a 50 day simple moving average of $193.58 and a two-hundred day simple moving average of $199.27. The company has a market cap of $10.29 billion, a PE ratio of 14.64 and a beta of 0.58.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 9th. Assurant's dividend payout ratio (DPR) is 24.94%.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the sale, the executive vice president owned 11,775 shares of the company's stock, valued at $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company's stock.

Hedge Funds Weigh In On Assurant

Several hedge funds have recently made changes to their positions in AIZ. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 67 shares in the last quarter. Focus Partners Wealth lifted its stake in 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 purchasing an additional 1,059 shares during the period. United Services Automobile Association acquired a new stake in shares of Assurant in the 1st quarter valued at $203,000. Goldman Sachs Group Inc. raised its position in Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider's stock valued at $60,987,000 after purchasing an additional 47,548 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Assurant by 606.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider's stock valued at $222,000 after buying an additional 910 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Analyst Upgrades and Downgrades

AIZ has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective on the stock in a research report on Thursday, April 10th. Morgan Stanley raised their price target on Assurant from $217.00 to $218.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen downgraded shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Assurant presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.83.

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.