Assurant, Inc. (NYSE:AIZ) Announces Earnings Results

Barsaba Taglieri
Agosto 12, 2017

(NYSE:AIZ) by 16.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Contravisory Investment Management Inc. now owns 1,318 shares of the financial services provider's stock valued at $126,000 after buying an additional 1,002 shares in the last quarter. ING Groep NV's holdings in Assurant were worth $290,000 as of its most recent SEC filing.

As of the end of the quarter Wells Fargo & Company/mn had bought 29,839 shares growing its position 244.7%. Ltd. reduced its stake in shares of Assurant, Inc. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Assurant by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 75,649 shares of the financial services provider's stock valued at $7,025,000 after buying an additional 2,832 shares during the last quarter. Wedge Capital Management L L P NC now owns 1,158,533 shares of the financial services provider's stock worth $110,837,000 after buying an additional 651,139 shares during the period. Contravisory Investment Management Inc. increased its position in Assurant by 317.1% in the first quarter. The institutional investor purchased 3,334 shares of the financial services provider's stock, valued at approximately $347,000. BlackRock Inc. now owns 3,755,033 shares of the financial services provider's stock valued at $359,245,000 after buying an additional 3,622,668 shares in the last quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider's stock worth $184,788,000 after buying an additional 276,789 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Assurant by 40.8% in the second quarter. Insiders own 0.83% of the company's stock. Assurant has a one year low of $78.50 and a one year high of $106.99. (AIZ) traded down 0.44% on Friday, reaching $102.54. During the same period in the prior year, the company earned $1.42 earnings per share. The 50 day moving average was down $-2.03 or -1.94% and the 200 day average went up $2.73 or +2.73%.

The company's P/E ratio is 13.54 and the market cap is 5.55B.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 1st. As of the latest earnings report the EPS was $7.61 and is expected to be $6.56 for the current year with 53,886,000 shares now outstanding. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm's revenue was down 11.0% compared to the same quarter a year ago. On average, analysts expect that Assurant, Inc. will post $6.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, August 28th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, August 24th. Assurant's dividend payout ratio (DPR) is presently 27.89%.

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Separately, BidaskClub raised shares of Assurant from a "hold" rating to a "buy" rating in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. The company has a consensus rating of "Hold" and a consensus target price of $98.33. Also, EVP Christopher J. Pagano sold 2,000 shares of the firm's stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $97.75, for a total value of $195,500.00.

In related news, EVP Christopher J. Pagano sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total value of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The disclosure for this sale can be found here.

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