Assurant, Inc. (NYSE:AIZ) Receives $214.60 Consensus PT from Analysts

Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have been given an average rating of "Moderate Buy" by the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $214.60.

AIZ has been the topic of several research analyst reports. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 14th. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Piper Sandler raised their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th.

Assurant Stock Down 0.3 %

Shares of AIZ traded down $0.66 during midday trading on Friday, reaching $197.50. The stock had a trading volume of 294,801 shares, compared to its average volume of 349,157. Assurant has a 1-year low of $144.61 and a 1-year high of $201.55. The company's fifty day simple moving average is $193.24 and its two-hundred day simple moving average is $179.34. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.61 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.

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

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, September 3rd. Assurant's dividend payout ratio (DPR) is presently 20.10%.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company's stock, valued at $593,962.88. This represents 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 accessible through the SEC website. In other news, EVP Martin Jenns sold 1,500 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company's stock, valued at $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Assurant

Institutional investors have recently made changes to their positions in the stock. Leuthold Group LLC purchased a new stake in shares of Assurant in the first quarter valued at $3,730,000. QRG Capital Management Inc. grew its position in shares of Assurant by 210.7% in the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider's stock valued at $1,639,000 after purchasing an additional 5,903 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Assurant in the first quarter valued at $1,213,000. SteelPeak Wealth LLC grew its position in shares of Assurant by 770.1% in the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider's stock valued at $2,170,000 after purchasing an additional 11,551 shares during the period. Finally, UniSuper Management Pty Ltd grew its position in shares of Assurant by 608.5% in the first quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider's stock valued at $1,062,000 after purchasing an additional 4,844 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

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.