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

Assurant, Inc. (NYSE:AIZGet Free Report) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $275.8333.

A number of equities research analysts recently issued reports on AIZ shares. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Piper Sandler lifted their price target on shares of Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Truist Financial lifted their price target on shares of Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings raised shares of Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, May 26th.

Get Our Latest Research Report on Assurant

Insider Buying and Selling at Assurant

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.53, for a total transaction of $395,796.40. Following the transaction, the executive vice president directly owned 2,895 shares of the company’s stock, valued at $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total transaction of $503,540.00. Following the transaction, the executive vice president directly owned 12,764 shares in the company, valued at approximately $3,213,592.28. This trade represents a 13.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 31,650 shares of company stock valued at $7,930,981. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Assurant by 21.4% during the first quarter. Parallel Advisors LLC now owns 386 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 68 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Assurant by 13.9% during the first quarter. NewEdge Advisors LLC now owns 4,657 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 568 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Assurant by 32.8% during the first quarter. Glenmede Trust Co. NA now owns 3,345 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 826 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Assurant during the first quarter worth $22,271,000. Finally, Western Wealth Management LLC acquired a new position in shares of Assurant during the first quarter worth $33,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Price Performance

Assurant stock opened at $257.81 on Thursday. Assurant has a 1 year low of $183.39 and a 1 year high of $260.96. The firm has a 50 day moving average price of $238.37 and a 200 day moving average price of $232.52. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 13.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZGet Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the firm earned $5.79 earnings per share. Assurant’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Assurant will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 8th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 8th. Assurant’s payout ratio is 18.01%.

About Assurant

(Get Free Report)

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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Analyst Recommendations for Assurant (NYSE:AIZ)

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