ATLANTA (AP) — ATLANTA (AP) — Assurant Inc. (AIZ) on Tuesday reported second-quarter profit of $188.7 million.
On a per-share basis, the Atlanta-based company said it had profit of $3.58. Earnings, adjusted for one-time gains and costs, were $4.08 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.58 per share.
The insurer posted revenue of $2.92 billion in the period. Its adjusted revenue was $2.94 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.87 billion.
Assurant shares have increased 1% since the beginning of the year, while the S&P's 500 index has increased almost 10%. In the final minutes of trading on Tuesday, shares hit $170.17, a rise of 20% 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