Assurant (NYSE:AIZ – Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50, Yahoo Finance reports. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.89 EPS. Assurant updated its FY24 guidance to ~18.84-19.01 EPS.
Assurant Trading Up 0.0 %
Shares of NYSE:AIZ traded up $0.08 during trading on Thursday, reaching $170.27. 316,927 shares of the stock were exchanged, compared to its average volume of 349,208. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. Assurant has a 12-month low of $136.15 and a 12-month high of $189.48. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.73 and a beta of 0.54. The firm’s 50-day moving average price is $169.28 and its 200 day moving average price is $173.59.
Assurant Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, June 10th. Assurant’s payout ratio is currently 20.10%.
Insider Transactions at Assurant
Analyst Ratings Changes
A number of research analysts have recently commented on AIZ shares. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research note on Wednesday, May 15th. Bank of America dropped their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.60.
Read Our Latest Stock Report on AIZ
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.
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