SunTrust Banks Equities Analysts Boost Earnings Estimates for Assurant, Inc. (AIZ)
Assurant, Inc. (NYSE:AIZ) – SunTrust Banks upped their Q2 2018 earnings per share (EPS) estimates for shares of Assurant in a research note issued to investors on Tuesday. SunTrust Banks analyst M. Hughes now forecasts that the financial services provider will earn $2.18 per share for the quarter, up from their prior forecast of $1.87. SunTrust Banks currently has a “Buy” rating and a $115.00 price target on the stock. SunTrust Banks also issued estimates for Assurant’s Q4 2018 earnings at $2.06 EPS and FY2018 earnings at $8.10 EPS.
Shares of Assurant (NYSE AIZ) opened at $95.86 on Thursday. The firm has a market capitalization of $5,026.84, a P/E ratio of 37.34, a PEG ratio of 0.66 and a beta of 0.78. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.26. Assurant has a twelve month low of $86.00 and a twelve month high of $106.99.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, February 23rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.34%. Assurant’s dividend payout ratio (DPR) is presently 53.59%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Assurant by 1.4% during the second quarter. PNC Financial Services Group Inc. now owns 6,301 shares of the financial services provider’s stock valued at $653,000 after buying an additional 85 shares during the last quarter. Clinton Group Inc. raised its holdings in shares of Assurant by 2.6% during the second quarter. Clinton Group Inc. now owns 14,259 shares of the financial services provider’s stock valued at $1,479,000 after buying an additional 363 shares during the last quarter. Rockland Trust Co. raised its holdings in shares of Assurant by 5.6% during the fourth quarter. Rockland Trust Co. now owns 10,410 shares of the financial services provider’s stock valued at $1,050,000 after buying an additional 553 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Assurant by 2.9% during the third quarter. Public Employees Retirement System of Ohio now owns 25,026 shares of the financial services provider’s stock valued at $2,390,000 after buying an additional 695 shares during the last quarter. Finally, Kwmg LLC raised its holdings in shares of Assurant by 4.9% during the third quarter. Kwmg LLC now owns 18,577 shares of the financial services provider’s stock valued at $1,774,000 after buying an additional 863 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.
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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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