ATLANTA (AP) — ATLANTA (AP) — Assurant Inc. (AIZ) on Tuesday reported fourth-quarter profit of $201.3 million.
The Atlanta-based company said it had net income of $3.87 per share. Earnings, adjusted for non-recurring costs, came to $4.79 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.33 per share.
The insurer posted revenue of $3.1 billion in the period. Its adjusted revenue was $3.13 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.05 billion.
For the year, the company reported profit of $760.2 million, or $14.46 per share. Revenue was reported as $11.95 billion.
Assurant shares have declined slightly since the beginning of the year, while the S&P’s 500 index has increased 3%. In the final minutes of trading on Tuesday, shares hit $212.80, a climb of 24% 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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