Assurant Inc. (NYSE:AIZ) – DOWLING & PARTN issued their Q1 2018 earnings per share (EPS) estimates for shares of Assurant in a research note issued on Monday. DOWLING & PARTN analyst G. Ransom expects that the brokerage will post earnings per share of $2.03 for the quarter. DOWLING & PARTN currently has a “Neutral” rating on the stock. DOWLING & PARTN also issued estimates for Assurant’s Q2 2018 earnings at $2.04 EPS and Q3 2018 earnings at $2.12 EPS.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. Assurant had a net margin of 4.97% and a return on equity of 8.08%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $2.07 earnings per share. The company’s revenue was down 32.0% on a year-over-year basis.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Assurant from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. lowered shares of Assurant to a “buy” rating and set a $95.00 price objective for the company. in a research report on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $77.00 price objective on shares of Assurant in a research report on Wednesday, July 6th. Finally, Credit Suisse Group AG started coverage on shares of Assurant in a research report on Friday. They issued a “neutral” rating and a $93.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Assurant currently has a consensus rating of “Hold” and an average price target of $91.00.
Shares of Assurant (NYSE:AIZ) traded down 0.01% on Thursday, reaching $89.93. 281,431 shares of the company were exchanged. Assurant has a 52 week low of $64.36 and a 52 week high of $92.63. The company’s 50-day moving average is $89.42 and its 200-day moving average is $85.48. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.27 and a beta of 0.76.
A number of large investors have recently added to or reduced their stakes in AIZ. Altrinsic Global Advisors LLC bought a new stake in Assurant during the first quarter worth about $32,674,000. Bank of New York Mellon Corp boosted its stake in Assurant by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 2,150,992 shares of the company’s stock worth $185,652,000 after buying an additional 292,753 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Assurant during the second quarter worth about $24,850,000. UBS Asset Management Americas Inc. boosted its stake in Assurant by 125.4% in the second quarter. UBS Asset Management Americas Inc. now owns 430,223 shares of the company’s stock worth $37,132,000 after buying an additional 239,335 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock worth $120,471,000 after buying an additional 220,377 shares in the last quarter. 94.52% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert W. Stein sold 2,500 shares of Assurant stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $84.01, for a total value of $210,025.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christopher J. Pagano sold 6,000 shares of Assurant stock in a transaction on Monday, September 12th. The shares were sold at an average price of $89.76, for a total transaction of $538,560.00. Following the completion of the sale, the executive vice president now directly owns 70,149 shares in the company, valued at approximately $6,296,574.24. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
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