Wall Street Zen upgraded shares of Assurant (NYSE:AIZ – Free Report) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.
Several other equities research analysts have also issued reports on AIZ. Piper Sandler lifted their price objective 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. BMO Capital Markets increased their target price on shares of Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods raised their target price on Assurant from $325.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday. Truist Financial raised their target price on Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group boosted their price target on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat, Assurant currently has a consensus rating of “Buy” and an average target price of $327.14.
View Our Latest Analysis on Assurant
Assurant Price Performance
NYSE AIZ opened at $306.77 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $15.13 billion, a PE ratio of 14.43 and a beta of 0.52. The company has a 50 day moving average price of $280.40 and a two-hundred day moving average price of $256.27. Assurant has a 12-month low of $209.86 and a 12-month high of $316.72.
Assurant (NYSE:AIZ – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 EPS for the quarter, topping the consensus estimate of $4.75 by $1.40. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the firm posted $5.73 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that Assurant will post 22.99 earnings per share for the current fiscal year.
Assurant Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, August 31st were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, August 31st. Assurant’s dividend payout ratio (DPR) is 16.56%.
Institutional Trading of Assurant
A number of institutional investors and hedge funds have recently modified their holdings of the company. Aberdeen Group plc boosted its holdings in shares of Assurant by 64.0% during the 3rd quarter. Aberdeen Group plc now owns 3,539 shares of the financial services provider’s stock worth $933,000 after buying an additional 1,381 shares during the period. Eurizon Capital SGR S.p.A. grew its stake in Assurant by 13.0% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 826 shares of the financial services provider’s stock valued at $218,000 after buying an additional 95 shares during the last quarter. Fifth Third Bancorp grew its stake in Assurant by 18.8% in the 3rd quarter. Fifth Third Bancorp now owns 12,787 shares of the financial services provider’s stock valued at $3,369,000 after buying an additional 2,027 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Assurant by 23.0% in the 3rd quarter. Ritholtz Wealth Management now owns 2,431 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 454 shares during the period. Finally, Machina Capital S.A.S. raised its holdings in Assurant by 84.8% in the 3rd quarter. Machina Capital S.A.S. now owns 5,661 shares of the financial services provider’s stock worth $1,492,000 after acquiring an additional 2,597 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.
Assurant Company Profile
Assurant, Inc is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle.
Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.
The company serves customers and business partners in markets across North America, Latin America, Europe, and Asia-Pacific.
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