Assurant, Inc. (NYSE:AIZ) Receives $234.17 Average Price Target from Brokerages

Assurant, Inc. (NYSE:AIZ - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $234.17.

AIZ has been the subject of a number of research reports. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded shares of Assurant from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $212.00 to $230.00 in a research note on Thursday. Morgan Stanley began coverage on shares of Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th.

Assurant Stock Performance

AIZ stock traded down $1.25 during trading hours on Friday, reaching $199.73. The stock had a trading volume of 1,094,809 shares, compared to its average volume of 408,300. The stock has a market capitalization of $10.24 billion, a PE ratio of 13.80 and a beta of 0.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.64 and a quick ratio of 0.42. The stock has a 50-day simple moving average of $210.44 and a 200 day simple moving average of $203.47. Assurant has a fifty-two week low of $160.12 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Analysts predict that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant's dividend payout ratio is currently 22.11%.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in shares of Assurant by 6.6% in the fourth quarter. Toronto Dominion Bank now owns 27,520 shares of the financial services provider's stock valued at $5,868,000 after purchasing an additional 1,711 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Assurant during the fourth quarter valued at about $270,000. Alpine Global Management LLC bought a new position in Assurant during the fourth quarter valued at about $791,000. Vise Technologies Inc. bought a new position in Assurant during the fourth quarter valued at about $568,000. Finally, iSAM Funds UK Ltd bought a new position in Assurant during the fourth quarter valued at about $617,000. Institutional investors and hedge funds own 92.65% of the company's stock.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.