Assurant (NYSE:AIZ - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $230.00 to $224.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider's stock.
Other equities research analysts have also issued research reports about the company. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $234.17.
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Assurant Stock Up 2.2 %
Shares of NYSE:AIZ traded up $4.12 during trading on Wednesday, reaching $193.68. 163,103 shares of the stock were exchanged, compared to its average volume of 379,656. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 13.38 and a beta of 0.53. The stock has a fifty day moving average of $204.42 and a two-hundred day moving average of $207.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant has a 1-year low of $160.12 and a 1-year high of $230.55.
Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Research analysts anticipate that Assurant will post 16.88 earnings per share for the current fiscal year.
Assurant Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, February 3rd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.65%. The ex-dividend date was 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 stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.
Institutional Investors Weigh In On Assurant
Hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after buying an additional 75 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 103 shares during the period. TD Private Client Wealth LLC increased its holdings in Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock worth $41,000 after acquiring an additional 161 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in Assurant during the 4th quarter worth approximately $44,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.
Assurant Company Profile
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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.
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