Brokerages predict that Assurant, Inc. (NYSE:AIZ) will announce $1.61 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Assurant’s earnings, with the highest sales estimate coming in at $1.61 billion and the lowest estimate coming in at $1.60 billion. Assurant reported sales of $1.69 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.7%. The business is expected to announce its next quarterly earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that Assurant will report full year sales of $1.61 billion for the current fiscal year. For the next fiscal year, analysts expect that the company will post sales of $6.55 billion per share, with estimates ranging from $6.54 billion to $6.56 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Assurant.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business earned $1.42 EPS. The company’s revenue was down 11.0% on a year-over-year basis.

Separately, BidaskClub cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Assurant presently has a consensus rating of “Hold” and an average target price of $98.33.

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In other news, EVP Christopher J. Pagano sold 7,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now directly owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Assurant by 2,736.9% in the first quarter. 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 boosted its stake in Assurant by 16.7% in the first quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider’s stock valued at $184,788,000 after buying an additional 276,789 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Assurant by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 1,161,818 shares of the financial services provider’s stock valued at $120,469,000 after buying an additional 3,285 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Assurant by 3.4% in the first quarter. Goldman Sachs Group Inc. now owns 624,069 shares of the financial services provider’s stock valued at $59,705,000 after buying an additional 20,469 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Assurant by 8.9% in the first quarter. Geode Capital Management LLC now owns 577,824 shares of the financial services provider’s stock valued at $55,204,000 after buying an additional 47,086 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Assurant (NYSE:AIZ) traded down 1.42% during midday trading on Thursday, hitting $103.53. 72,357 shares of the stock were exchanged. Assurant has a 12-month low of $78.50 and a 12-month high of $106.99. The firm has a 50 day moving average of $104.54 and a 200 day moving average of $99.79. The firm has a market cap of $5.58 billion, a P/E ratio of 13.61 and a beta of 0.77.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%. Assurant’s payout ratio is currently 27.89%.

About Assurant

Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).

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Earnings History and Estimates for Assurant (NYSE:AIZ)

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