Research Analysts Set Expectations for Assurant, Inc.’s Q2 2024 Earnings (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) – Stock analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for Assurant in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst T. De now anticipates that the financial services provider will post earnings per share of $4.02 for the quarter, up from their previous estimate of $3.98. The consensus estimate for Assurant’s current full-year earnings is $16.17 per share. Zacks Research also issued estimates for Assurant’s Q4 2024 earnings at $4.33 EPS, FY2024 earnings at $15.88 EPS and Q1 2025 earnings at $3.56 EPS.

Several other brokerages have also recently commented on AIZ. Piper Sandler increased their price target on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised 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. Finally, UBS Group lifted their price target on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Assurant has an average rating of “Moderate Buy” and a consensus target price of $200.25.

Assurant Stock Down 0.4 %

Shares of Assurant stock opened at $171.42 on Wednesday. The company has a fifty day moving average price of $177.90 and a 200 day moving average price of $172.24. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant has a twelve month low of $118.45 and a twelve month high of $189.48. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.75 and a beta of 0.53.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the completion of the transaction, the chief accounting officer now owns 3,702 shares in the company, valued at $648,923.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dimitry Dirienzo sold 2,084 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $175.29, for a total transaction of $365,304.36. Following the sale, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,484 shares of company stock worth $2,022,440. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Assurant by 7.5% in the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after buying an additional 191,750 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Assurant by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock valued at $267,848,000 after purchasing an additional 109,123 shares during the last quarter. Lyrical Asset Management LP raised its holdings in Assurant by 2.0% in the 4th quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock worth $131,971,000 after acquiring an additional 15,074 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after purchasing an additional 139,680 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Assurant in the fourth quarter worth $108,253,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

About Assurant

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.