Assurant, Inc. (NYSE:AIZ) – Stock analysts at SunTrust Banks cut their Q4 2017 EPS estimates for shares of Assurant in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will earn $1.72 per share for the quarter, down from their prior estimate of $1.76. SunTrust Banks also issued estimates for Assurant’s Q1 2018 earnings at $1.85 EPS, Q3 2018 earnings at $1.43 EPS and FY2018 earnings at $7.05 EPS.
Separately, BidaskClub downgraded Assurant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Intl Fcstone Inc. acquired a new position in Assurant in the second quarter valued at approximately $1,373,000. Achmea Investment Management B.V. acquired a new position in Assurant in the second quarter valued at approximately $244,000. Toronto Dominion Bank boosted its stake in Assurant by 23.5% in the second quarter. Toronto Dominion Bank now owns 18,570 shares of the financial services provider’s stock valued at $1,925,000 after acquiring an additional 3,539 shares during the period. Oak Associates Ltd. OH boosted its stake in Assurant by 14.3% in the second quarter. Oak Associates Ltd. OH now owns 46,350 shares of the financial services provider’s stock valued at $4,806,000 after acquiring an additional 5,800 shares during the period. Finally, Sterling Capital Management LLC acquired a new position in Assurant in the second quarter valued at approximately $754,000. Institutional investors own 90.77% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Monday, August 28th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a yield of 2.22%. Assurant’s payout ratio is currently 27.89%.
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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