Assurant (NYSE:AIZ) Posts Quarterly Earnings Results, Beats Expectations By $0.83 EPS

Assurant (NYSE:AIZ - Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83, Zacks reports. Assurant had a return on equity of 17.42% and a net margin of 6.31%.

Assurant Stock Performance

Shares of AIZ traded down $5.29 during mid-day trading on Friday, reaching $202.73. The company had a trading volume of 400,419 shares, compared to its average volume of 359,659. Assurant has a 52-week low of $160.12 and a 52-week high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.40 billion, a P/E ratio of 14.46 and a beta of 0.62. The stock has a 50 day moving average of $211.71 and a two-hundred day moving average of $202.91.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.58%. Assurant's payout ratio is 22.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIZ. Morgan Stanley began coverage on Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Truist Financial increased their price objective on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $231.17.

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.