Assurant (AIZ) Releases Earnings Results, Beats Expectations By $0.31 EPS

Assurant (AIZ) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $1.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.31. Analysts had a consensus of $1.21. The company posted revenue of $2147.50 million in the period, compared to analysts expectations of $1878.93 million. The company’s revenue was down -17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Assurant. Shares were Reiterated by Piper Jaffray on Feb 10, 2016 to “Neutral” and Lowered the Price Target to $ 80 from a previous price target of $84 .

Assurant opened for trading at $79.05 and hit $79.69 on the upside on Friday, eventually ending the session at $79.63, with a gain of 0.82% or 0.65 points. The heightened volatility saw the trading volume jump to 5,93,495 shares. Company has a market cap of $5,158 M.

In a different news, on Mar 14, 2016, Christopher J Pagano (EVP, CFO & Treasurer) sold 2,000 shares at $77.46 per share price. According to the SEC, on Nov 25, 2015, Gene Mergelmeyer (EVP, CAO) sold 10,000 shares at $85.28 per share price. On Nov 19, 2015, Robert W Stein (director) sold 2,500 shares at $83.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Assurant Inc. (Assurant) is a provider of insurance products and related services which operates in North America Latin America Europe and across the world. The Company operates in four segments: Assurant Solution Assurant Specialty Property Assurant Health and Assurant Employee Benefits. Assurant Solutions provides mobile device protection debt protection administration credit-related insurance warranties and service contracts and pre-funded funeral insurance. Assurant Specialty Property provides lender-placed homeowners insurance renters insurance and related products and manufactured housing homeowners insurance. Assurant Health provides individual health and small employer group health insurance. Assurant Employee Benefits primarily provides group dental insurance group disability insurance and group life insurance.


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