Equities analysts expect that Assurant will post $3.53 EPS for the current year.
The takeover is expected to be completed in the first half of 2018 after which Assurant will become a wholly-owned subsidiary of TWG Holdings Ltd., whose name will be changed to Assurant Ltd.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, beating the Zacks' consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm's quarterly revenue was down 11.0% compared to the same quarter a year ago. During the same period in the previous year, the business posted $1.42 earnings per share. BidaskClub cut shares of Assurant from a "hold" rating to a "sell" rating in a research report on Tuesday, August 22nd.
Shares of Assurant (NYSE AIZ) opened at 93.85 on Friday. The company has a market capitalization of $5.06 billion, a PE ratio of 12.33 and a beta of 0.80. Assurant has a 52-week low of $78.50 and a 52-week high of $106.99. The stock's 50 day moving average is $94.21 and its 200-day moving average is $99.38.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.20%. UBS Asset Management Americas Inc. lifted its stake in Assurant by 8.0% during the 1st quarter. Ameriprise Financial Inc. lifted its stake in shares of Assurant by 10.5% in the 1st quarter. The Warranty Group now provides warranty solutions in over 35 countries for manufacturers, distributors and retailers of consumer electronics, appliances, furniture, automobiles and homes, as well as specialty insurance products and services for financial institutions. Canada Pension Plan Investment Board increased its stake in Assurant by 93.8% during the 1st quarter. Prudential Financial Inc. now owns 408,459 shares of the financial services provider's stock worth $42,353,000 after acquiring an additional 328,490 shares during the last quarter. JPMorgan Chase & Co. now owns 266,069 shares of the financial services provider's stock valued at $25,454,000 after purchasing an additional 92,282 shares during the period.
Assurant expects the move to advance its strategy in the global lifestyle market, including its presence in extended-service contracts, vehicle protection and financial services businesses. The Company operates in North America, Latin America, Europe and Asia.