Assurant (NYSE:AIZ) released its quarterly earnings results on Tuesday. The financial services provider reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.21, Briefing.com reports. Assurant had a return on equity of 7.23% and a net margin of 3.46%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company posted $2.13 EPS. Assurant’s revenue for the quarter was up 39.0% on a year-over-year basis.
Shares of NYSE:AIZ traded up $8.26 during midday trading on Wednesday, reaching $117.89. The company had a trading volume of 985,025 shares, compared to its average volume of 588,242. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.47 and a current ratio of 0.47. Assurant has a 1-year low of $82.31 and a 1-year high of $118.38. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 20.33 and a beta of 0.54. The company has a fifty day simple moving average of $110.08.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, August 26th will be given a $0.60 dividend. The ex-dividend date is Friday, August 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.04%. Assurant’s dividend payout ratio (DPR) is 41.38%.
Separately, UBS Group increased their price target on Assurant to $133.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. They noted that the move was a valuation call.
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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