Shares of Assurant, Inc. (NYSE:AIZ – Get Free Report) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $324.29.
AIZ has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley decreased their price objective on shares of Assurant from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Truist Financial lifted their price objective on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th.
Get Our Latest Stock Analysis on AIZ
Assurant Stock Performance
Shares of NYSE AIZ opened at $283.79 on Wednesday. Assurant has a 52 week low of $206.03 and a 52 week high of $303.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The business’s 50-day simple moving average is $277.73 and its 200-day simple moving average is $263.77. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 13.55 and a beta of 0.52.
Assurant (NYSE:AIZ – Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.56 EPS. As a group, equities research analysts expect that Assurant will post 22.40 earnings per share for the current fiscal year.
Assurant Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, August 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $3.52 annualized dividend and a yield of 1.2%. Assurant’s dividend payout ratio is 16.81%.
Insider Buying and Selling
In related news, EVP Biju Nair sold 3,931 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $302.46, for a total value of $1,188,970.26. Following the sale, the executive vice president owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Assurant during the second quarter valued at approximately $1,345,211,000. Bank of America Corp DE bought a new position in shares of Assurant in the second quarter worth about $269,635,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Assurant during the second quarter valued at approximately $1,826,000. Canada Pension Plan Investment Board purchased a new stake in Assurant in the 2nd quarter worth $8,700,000. Finally, Dockside LLC bought a new position in Assurant during the second quarter valued at $11,695,000. 92.65% of the stock is owned by institutional investors.
About Assurant
Assurant, Inc (NYSE:AIZ) is a global business services company that provides insurance products and related services. Its offerings are designed to help consumers protect mobile devices, household belongings, vehicles, homes and other significant purchases, while supporting businesses in managing risk and customer relationships.
Assurant operates through three primary business segments: Global Lifestyle, Global Housing and Global Preneed. Global Lifestyle provides mobile device protection, extended service contracts and related services for consumer electronics, appliances and vehicles.
Featured Stories
- Five stocks we like better than Assurant
- Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over
- Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling?
- Halliburton Gains Traction: Multiyear Upcycle Ahead
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.
