Assurant, Inc. (NYSE:AIZ) Given Average Rating of “Moderate Buy” by Brokerages

Assurant, Inc. (NYSE:AIZ) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $228.67.

AIZ has been the subject of a number of research analyst reports. Truist Financial boosted their price target on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a report on Thursday, April 10th. Morgan Stanley set a $217.00 price target on Assurant and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods boosted their price target on Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th.

Assurant Price Performance

Shares of NYSE AIZ opened at $203.77 on Friday. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.08 and a beta of 0.61. The business has a 50 day simple moving average of $195.37 and a 200-day simple moving average of $206.21.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $4.78 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts expect that Assurant will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.57%. Assurant’s payout ratio is currently 24.94%.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 1,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the transaction, the executive vice president now directly owns 11,775 shares in the company, valued at $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AIZ. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Assurant by 47.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock valued at $40,000 after buying an additional 61 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. LRI Investments LLC raised its position in shares of Assurant by 14.0% during the fourth quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 68 shares during the period. KBC Group NV raised its position in shares of Assurant by 1.6% during the first quarter. KBC Group NV now owns 4,745 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 73 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the period. 92.65% of the stock is currently owned by institutional investors.

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.