Assurant (NYSE:AIZ) Posts Earnings Results

Assurant (NYSE:AIZGet Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24, Zacks reports. Assurant had a return on equity of 20.32% and a net margin of 7.60%.

Assurant Trading Down 0.3%

Shares of Assurant stock traded down $0.75 during mid-day trading on Tuesday, hitting $281.64. 425,472 shares of the stock were exchanged, compared to its average volume of 401,831. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 14.41 and a beta of 0.55. Assurant has a twelve month low of $188.00 and a twelve month high of $284.64. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $267.43 and a 200 day simple moving average of $243.00.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 8th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Assurant’s dividend payout ratio (DPR) is presently 18.01%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Truist Financial lifted their price objective on shares of Assurant from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada set a $310.00 price target on Assurant in a research report on Wednesday, June 17th. Morgan Stanley boosted their target price on shares of Assurant from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.43.

View Our Latest Analysis on Assurant

Insiders Place Their Bets

In other Assurant news, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the transaction, the executive vice president directly owned 27,374 shares of the company’s stock, valued at $7,191,423.54. The trade was a 20.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Dimitry Dirienzo sold 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the sale, the chief accounting officer owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. This trade represents a 42.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,000 shares of company stock worth $9,211,620 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC acquired a new stake in shares of Assurant during the 2nd quarter worth approximately $27,000. BOKF NA acquired a new position in Assurant during the 3rd quarter valued at about $32,000. Greenline Wealth Management LLC acquired a new position in Assurant during the 4th quarter valued at about $41,000. Geneos Wealth Management Inc. raised its position in shares of Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Assurant by 197.2% in the 4th quarter. Parallel Advisors LLC now owns 318 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

(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.

See Also

Earnings History for Assurant (NYSE:AIZ)

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