Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $229.50.
AIZ has been the subject of a number of recent research reports. StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Piper Sandler raised their price objective on Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Truist Financial boosted their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price target on the stock.
Read Our Latest Analysis on Assurant
Insider Activity at Assurant
In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Assurant during the 3rd quarter valued at about $25,000. Huntington National Bank increased its position in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock valued at $39,000 after buying an additional 163 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider's stock worth $33,000 after buying an additional 77 shares during the period. Brooklyn Investment Group purchased a new position in shares of Assurant during the 3rd quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Assurant during the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 92.65% of the company's stock.
Assurant Stock Down 0.8 %
Shares of AIZ traded down $1.81 during midday trading on Thursday, reaching $211.41. 219,250 shares of the stock were exchanged, compared to its average volume of 351,427. The company has a market capitalization of $10.84 billion, a P/E ratio of 15.08 and a beta of 0.61. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant has a 52 week low of $160.12 and a 52 week high of $230.55. The company's 50 day moving average is $213.65 and its two-hundred day moving average is $193.62.
Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the prior year, the business earned $4.29 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Assurant will post 15.38 earnings per share for the current year.
Assurant Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a dividend of $0.80 per share. This is an increase from Assurant's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.51%. Assurant's payout ratio is 22.82%.
Assurant Company Profile
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Get Free ReportAssurant, 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.
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