Assurant, Inc. (NYSE:AIZ) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have received an average rating of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $209.00.

Several brokerages recently weighed in on AIZ. StockNews.com raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Thursday, September 12th. UBS Group lifted their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research note on Monday. Bank of America decreased their price target on Assurant from $223.00 to $222.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised their price objective on Assurant from $186.00 to $194.00 and gave the company a "market perform" rating in a research note on Wednesday, August 14th. Finally, Piper Sandler cut Assurant from an "overweight" rating to a "neutral" rating and set a $200.00 target price for the company. in a research report on Thursday, August 22nd.

Insider Buying and Selling at Assurant

In other news, CAO Dimitry Dirienzo sold 550 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Assurant

Several hedge funds have recently made changes to their positions in AIZ. Leuthold Group LLC acquired a new position in Assurant in the 1st quarter valued at approximately $3,730,000. QRG Capital Management Inc. boosted its holdings in shares of Assurant by 210.7% in the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider's stock worth $1,639,000 after acquiring an additional 5,903 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Assurant in the 1st quarter worth approximately $1,213,000. SteelPeak Wealth LLC grew its position in Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider's stock worth $2,170,000 after acquiring an additional 11,551 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Assurant by 3.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider's stock valued at $46,900,000 after purchasing an additional 7,150 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Price Performance

NYSE AIZ opened at $198.01 on Tuesday. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50 day simple moving average of $184.31 and a 200-day simple moving average of $177.50. Assurant has a 52-week low of $141.83 and a 52-week high of $199.50.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $3.89 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Assurant will post 16.54 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Assurant's dividend payout ratio is presently 20.10%.

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.