NEW YORK (AP) — NEW YORK (AP) — Assurant Inc. (AIZ) on Tuesday reported fourth-quarter profit of $68.1 million.
The New York-based company said it had profit of $1.27 per share. Earnings, adjusted for non-recurring costs, were $3.23 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The insurer posted revenue of $2.65 billion in the period. Its adjusted revenue was $2.67 billion, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.63 billion.
For the year, the company reported profit of $276.6 million, or $5.05 per share. Revenue was reported as $10.37 billion.
Assurant shares have risen 8.5% since the beginning of the year, while the S&P’s 500 index has risen 8.5%. In the final minutes of trading on Tuesday, shares hit $135.65, a fall of 11% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIZ at https://www.zacks.com/ap/AIZ
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