Assurant, Inc. (NYSE:AIZ) Receives $225.20 Average PT from Brokerages

Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $225.20.

A number of research firms have commented on AIZ. Truist Financial boosted their price target on shares of Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a report on Tuesday. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Finally, Bank of America upped their price target on shares of Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, October 10th.

Assurant Price Performance

NYSE:AIZ traded up $0.95 during mid-day trading on Wednesday, hitting $213.24. 552,269 shares of the stock traded hands, compared to its average volume of 346,085. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant has a 12-month low of $159.32 and a 12-month high of $214.82. The company has a market cap of $10.94 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The business's 50-day moving average price is $195.77 and its 200 day moving average price is $181.96.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the company earned $4.29 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Assurant will post 15.05 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.35%. Assurant's payout ratio is 20.54%.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 550 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company's stock, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company's stock, valued at $4,321,240.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Assurant

Several large investors have recently added to or reduced their stakes in AIZ. Glenmede Trust Co. NA bought a new stake in shares of Assurant during the third quarter valued at approximately $229,000. Townsquare Capital LLC raised its position in shares of Assurant by 9.4% during the third quarter. Townsquare Capital LLC now owns 1,507 shares of the financial services provider's stock valued at $300,000 after buying an additional 130 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Assurant during the third quarter valued at approximately $42,000. FMR LLC raised its position in shares of Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock valued at $231,392,000 after buying an additional 65,874 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Assurant by 9.3% during the third quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider's stock valued at $9,400,000 after buying an additional 4,016 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Company Profile

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.