HomeRenters InsuranceAssurant Inc Up 10.16% To $133.35 After Earnings Beat

Assurant Inc Up 10.16% To $133.35 After Earnings Beat


Assurant, Inc. (AIZ) reported better than expected earnings this afternoon for Q1 2023.

The consensus among analysts for Assurant Inc was for an earnings per share (EPS) of $2.32. The firm was able to surpass those projections, reporting an EPS of $2.75, a positive surprise of $0.43 (19%). Profits fell 27% year-over-year after reporting an EPS of $3.75 in its year-ago quarter. The negative growth rate signals that the Financial Services company isn’t performing well amid current economic conditions.

Consensus estimates for Assurant Inc revenue averaged out to $2.6 billion, with the business managing to beat those expectations with reported first-quarter revenue of $2.6 billion. The $63 million (2%) positive revenue surprise led to 6% growth year-over-year as the firm reported revenue of $2.5 billion in its year-ago quarter. The lower earnings growth compared to revenue points to Assurant Inc not being able to improve its profit margin.

The stock is up 10.16% to $133.35 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Assurant Inc a Bullish Sentiment Rank from InvestorsObserver.

Assurant Inc has performed a little below average during the past few months. Before the report, Assurant Inc received a Long-Term Technical Rank by InvestorsObserver of 30, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $104.49 on March 17, 2023 and set a 52-week high on May 6, 2022 at $190.72.

Assurant is a leading global business services company that supports protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries Assurant supports the advancement of the connected world by partnering with the worlds leading brands to develop innovative solutions and deliver an enhanced customer experience through mobile device solutions extended service contracts vehicle protection services renters insurance lender-placed insurance products and other specialty products. Our Uncompromising Values Our values guide the way we support our customers and work with one another. Common Sense – We seek simple straightforward solutions that keep life running smoothly for the clients and consumers we serve. Common Decency – We act with integrity. We treat others with respect courtesy and kindness. Were honest transparent and committed to doing the right thing. Uncommon Thinking – Were never satisfied with the status quo. We seek diverse perspectives and thrive on challenge. We believe theres always a way to build upon our successes. Uncommon Results – We focus on actionable solutions that deliver measurable results. We approach each challenge with a sense of urgency striving to exceed every expectation. Thank you for visiting Assurants LinkedIn community. Before posting please review our guidelines at https://www.assurant.com/social-community-guidelines.



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