ATLANTA (AP) — ATLANTA (AP) — Assurant Inc. (AIZ) on Tuesday reported first-quarter net income of $146.6 million.
On a per-share basis, the Atlanta-based company said it had net income of $2.83. Earnings, adjusted for one-time gains and costs, were $3.39 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.
The insurer posted revenue of $3.07 billion in the period. Its adjusted revenue was $3.09 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.05 billion.
Assurant shares have decreased 7% since the beginning of the year, while the S&P’s 500 index has decreased roughly 5%. In the final minutes of trading on Tuesday, shares hit $197.82, a rise of nearly 10% 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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