William Blair Analysts Decrease Earnings Estimates for Assurant, Inc. (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZGet Rating) – Research analysts at William Blair cut their Q4 2022 EPS estimates for Assurant in a note issued to investors on Wednesday, August 3rd. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.03 per share for the quarter, down from their prior forecast of $3.25. The consensus estimate for Assurant’s current full-year earnings is $12.80 per share. William Blair also issued estimates for Assurant’s Q3 2023 earnings at $2.99 EPS and FY2023 earnings at $14.00 EPS.

Assurant (NYSE:AIZGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Assurant had a net margin of 11.80% and a return on equity of 11.61%. During the same quarter last year, the business posted $2.99 earnings per share.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler downgraded shares of Assurant from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $205.00 to $185.00 in a report on Friday, June 24th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday.

Assurant Stock Performance

NYSE:AIZ opened at $155.29 on Friday. Assurant has a 1-year low of $144.18 and a 1-year high of $194.12. The firm has a 50 day simple moving average of $172.57 and a 200-day simple moving average of $173.40. The firm has a market cap of $8.40 billion, a PE ratio of 7.57, a P/E/G ratio of 0.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.24 and a quick ratio of 0.40.

Institutional Investors Weigh In On Assurant

Several institutional investors have recently bought and sold shares of the business. Thornburg Investment Management Inc. purchased a new stake in Assurant during the second quarter worth approximately $15,216,000. Illinois Municipal Retirement Fund grew its stake in Assurant by 132.0% during the second quarter. Illinois Municipal Retirement Fund now owns 6,431 shares of the financial services provider’s stock worth $1,112,000 after buying an additional 3,659 shares during the period. Los Angeles Capital Management LLC grew its stake in Assurant by 7.4% during the second quarter. Los Angeles Capital Management LLC now owns 414,233 shares of the financial services provider’s stock worth $71,600,000 after buying an additional 28,504 shares during the period. Aviva PLC grew its stake in Assurant by 58.5% during the second quarter. Aviva PLC now owns 24,104 shares of the financial services provider’s stock worth $4,166,000 after buying an additional 8,894 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Assurant by 3.4% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,024 shares of the financial services provider’s stock worth $5,190,000 after buying an additional 974 shares during the period. 91.36% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Monday, August 29th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.75%. Assurant’s dividend payout ratio is currently 13.26%.

About Assurant

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Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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Earnings History and Estimates for Assurant (NYSE:AIZ)

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