Assurant, Inc. (NYSE:AIZ) Receives Consensus Rating of “Buy” from Analysts

Assurant, Inc. (NYSE:AIZGet Free Report) has been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $327.1429.

Several equities analysts recently weighed in on AIZ shares. BMO Capital Markets boosted their price objective on Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group raised their target price on Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Truist Financial lifted their price target on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods increased their price objective on Assurant from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th.

Check Out Our Latest Report on Assurant

Assurant Stock Down 1.3%

Assurant stock opened at $282.06 on Tuesday. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 13.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. Assurant has a fifty-two week low of $205.01 and a fifty-two week high of $303.94. The firm has a fifty day moving average price of $279.32 and a two-hundred day moving average price of $249.70.

Assurant (NYSE:AIZGet Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $1.24. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.56 earnings per share. As a group, analysts forecast that Assurant will post 22.05 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, August 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. Assurant’s dividend payout ratio is 16.81%.

Insider Buying and Selling at Assurant

In other news, EVP Robert Lonergan sold 7,000 shares of the business’s stock in a transaction dated 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 owned 27,374 shares in the company, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nair Biju sold 3,931 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the transaction, the executive vice president owned 24,247 shares in the company, valued at approximately $7,333,747.62. The trade was a 13.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently added to or reduced their stakes in the company. First Bancorp Inc ME acquired a new position in Assurant in the 2nd quarter valued at approximately $31,000. Montag A & Associates Inc. acquired a new stake in shares of Assurant during the 4th quarter worth approximately $28,000. Arlington Trust Co LLC grew its holdings in shares of Assurant by 81.4% during the 2nd quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 57 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant during the second quarter valued at approximately $27,000. Finally, Transamerica Financial Advisors LLC bought a new stake in shares of Assurant during the second quarter valued at approximately $40,000. 92.65% of the stock is owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for Assurant (NYSE:AIZ)

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