ATLANTA (AP) — ATLANTA (AP) — Assurant Inc. (AIZ) on Tuesday reported fourth-quarter net income of $225.2 million.
On a per-share basis, the Atlanta-based company said it had net income of $4.41. Earnings, adjusted for non-recurring costs, came to $5.61 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.55 per share.
The insurer posted revenue of $3.35 billion in the period. Its adjusted revenue was $3.37 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.28 billion.
For the year, the company reported profit of $872.7 million, or $16.93 per share. Revenue was reported as $12.89 billion.
Assurant shares have declined roughly 2% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 1%. In the final minutes of trading on Tuesday, shares hit $236.46, an increase 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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