What Happened?
Shares of insurance services company Assurant (NYSE:AIZ) jumped 10.6% in the afternoon session after the company reported strong second-quarter financial results that surpassed expectations and raised its full-year outlook. The specialty insurance provider posted adjusted earnings of $5.56 per share, which handily topped analyst estimates of $4.43. Revenue also grew 8% from the prior year to $3.16 billion. The strong performance stemmed from growth across its Global Housing and Global Lifestyle divisions. Buoyed by the strong first half of the year, Assurant increased its 2025 financial outlook. The company now expected adjusted earnings per share to approach 10% growth for the full year.
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What Is The Market Telling Us
Assurant’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. Moves this big are rare for Assurant and indicate this news significantly impacted the market’s perception of the business.
Assurant is down 0.6% since the beginning of the year, but at $210.05 per share, it is still trading close to its 52-week high of $228.68 from November 2024. Investors who bought $1,000 worth of Assurant’s shares 5 years ago would now be looking at an investment worth $1,767.
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