Analysts expect Assurant, Inc. (NYSE:AIZ) to announce $1.58 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Assurant’s earnings, with estimates ranging from $1.44 to $1.71. Assurant reported earnings of $0.46 per share during the same quarter last year, which would indicate a positive year over year growth rate of 243.5%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 8th.
On average, analysts expect that Assurant will report full-year earnings of $3.70 per share for the current year, with EPS estimates ranging from $3.58 to $3.81. For the next fiscal year, analysts forecast that the company will post earnings of $7.97 per share, with EPS estimates ranging from $7.84 to $8.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Assurant.
Separately, SunTrust Banks restated a “buy” rating and set a $115.00 price target on shares of Assurant in a report on Thursday, October 12th.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, February 26th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, February 23rd. Assurant’s dividend payout ratio (DPR) is presently 53.59%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. purchased a new position in Assurant during the fourth quarter worth about $976,000. California Public Employees Retirement System boosted its holdings in Assurant by 8.9% during the fourth quarter. California Public Employees Retirement System now owns 236,435 shares of the financial services provider’s stock worth $23,842,000 after purchasing an additional 19,388 shares during the last quarter. Teacher Retirement System of Texas raised its position in Assurant by 243.4% in the fourth quarter. Teacher Retirement System of Texas now owns 60,024 shares of the financial services provider’s stock worth $6,053,000 after acquiring an additional 42,543 shares during the period. BT Investment Management Ltd raised its position in Assurant by 141.4% in the fourth quarter. BT Investment Management Ltd now owns 38,788 shares of the financial services provider’s stock worth $3,911,000 after acquiring an additional 22,722 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new stake in Assurant in the fourth quarter worth about $5,804,000. Institutional investors and hedge funds own 91.68% of the company’s stock.
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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