Analysts Offer Predictions for Assurant FY2028 Earnings

Key Points

• FY2028 earnings forecast: DOWLING & PARTN analyst D. Lukpanov projects Assurant will earn $24.00 per share in FY2028, above the current full-year consensus estimate of $22.28.
• Analyst sentiment remains positive: Assurant has an average “Buy” rating and a consensus price target of $327.14, with multiple firms recently raising their targets and two analysts assigning a Strong Buy rating.
• Recent performance and shareholder returns: Assurant exceeded quarterly EPS estimates with $6.41 versus $5.17 expected, while revenue rose 9.4% year over year. The company also paid a quarterly dividend of $0.88 per share, representing a 1.3% yield.

Assurant, Inc. (NYSE:AIZ - Free Report) - Stock analysts at DOWLING & PARTN issued their FY2028 earnings per share (EPS) estimates for Assurant in a report issued on Tuesday, September 29th. DOWLING & PARTN analyst D. Lukpanov expects that the financial services provider will earn $24.00 per share for the year. The consensus estimate for Assurant's current full-year earnings is $22.28 per share.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets upped their target price on Assurant from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 16th. Finally, Piper Sandler raised their price objective on shares of Assurant from $290.00 to $329.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat, Assurant currently has an average rating of "Buy" and a consensus price target of $327.14.

Assurant Trading Up 0.1%

NYSE:AIZ opened at $263.84 on Thursday. Assurant has a one year low of $206.03 and a one year high of $303.94. The business's 50-day simple moving average is $280.75 and its 200 day simple moving average is $258.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 12.60 and a beta of 0.54.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company posted $5.56 EPS. Assurant's revenue for the quarter was up 9.4% on a year-over-year basis.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Assurant's dividend payout ratio is 16.81%.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,931 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the sale, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIZ. BlackRock Inc. bought a new position in shares of Assurant during the second quarter worth about $1,345,211,000. Bank of America Corp DE lifted its position in Assurant by 1.3% in the 1st quarter. Bank of America Corp DE now owns 361,210 shares of the financial services provider's stock valued at $78,675,000 after purchasing an additional 4,460 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Assurant in the 2nd quarter valued at about $8,700,000. Dockside LLC acquired a new position in Assurant during the 2nd quarter valued at about $11,695,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Assurant during the 2nd quarter valued at about $1,826,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Company Profile

Assurant, Inc is a global business services company that provides insurance products and related services supporting major purchases and everyday needs. Its offerings are distributed through partnerships with mobile carriers, retailers, automotive manufacturers and dealers, financial institutions, housing providers, and other businesses.

Through its Global Lifestyle business, Assurant provides mobile device protection, extended service contracts, vehicle service contracts, and related protection products.

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