Brokers Offer Predictions for Assurant, Inc.’s Q1 2023 Earnings (NYSE:AIZ)

Posted by Defense World Staff on Apr 24th, 2023

Assurant, Inc. (NYSE:AIZ – Get Rating) – Research analysts at William Blair lowered their Q1 2023 earnings per share (EPS) estimates for Assurant in a note issued to investors on Wednesday, April 19th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $2.31 for the quarter, down from their prior forecast of $2.83. The consensus estimate for Assurant’s current full-year earnings is $10.72 per share.

Assurant (NYSE:AIZ – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.64. Assurant had a return on equity of 13.52% and a net margin of 2.68%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion.

A number of other equities research analysts have also recently commented on AIZ. Piper Sandler reduced their price objective on Assurant from $133.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research note on Tuesday, March 21st. Finally, StockNews.com initiated coverage on Assurant in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Assurant Trading Up 0.3 %

NYSE AIZ opened at $117.25 on Monday. The business has a 50 day simple moving average of $120.56 and a 200 day simple moving average of $127.50. Assurant has a one year low of $104.49 and a one year high of $190.72. The stock has a market capitalization of $6.20 billion, a P/E ratio of 23.69, a P/E/G ratio of 0.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.42 and a quick ratio of 0.42.

Insider Buying and Selling at Assurant

In other news, CAO Dimitry Dirienzo sold 525 shares of Assurant stock in a transaction on Friday, February 10th. The stock was sold at an average price of $131.68, for a total value of $69,132.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,881 shares in the company, valued at $774,410.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Assurant

Several hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in Assurant by 11.5% during the first quarter. American Century Companies Inc. now owns 6,180 shares of the financial services provider’s stock worth $1,124,000 after buying an additional 639 shares in the last quarter. HighTower Advisors LLC purchased a new position in Assurant during the first quarter worth about $211,000. MetLife Investment Management LLC grew its position in Assurant by 23.1% during the first quarter. MetLife Investment Management LLC now owns 15,499 shares of the financial services provider’s stock worth $2,818,000 after buying an additional 2,912 shares in the last quarter. Panagora Asset Management Inc. grew its position in Assurant by 17.5% during the first quarter. Panagora Asset Management Inc. now owns 6,005 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 896 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Assurant by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,624 shares of the financial services provider’s stock worth $1,386,000 after buying an additional 472 shares in the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

About Assurant

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Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. 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.

Earnings History and Estimates for Assurant (NYSE:AIZ)

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