Assurant, Inc. (NYSE:AIZ) Receives $209.00 Consensus PT from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $209.00.

Several analysts have commented on AIZ shares. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Bank of America reduced their target price on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Piper Sandler downgraded Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Thursday, August 22nd. Finally, UBS Group upped their price objective on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Insider Buying and Selling at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

Several large investors have recently bought and sold shares of AIZ. Innealta Capital LLC acquired a new stake in Assurant in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. grew its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares during the last quarter. Assetmark Inc. bought a new position in shares of Assurant during the fourth quarter worth about $44,000. Quarry LP bought a new stake in shares of Assurant in the 4th quarter valued at $51,000. Finally, Family Firm Inc. bought a new stake in shares of Assurant in the 2nd quarter valued at $51,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Performance

AIZ stock opened at $198.90 on Tuesday. The company has a market cap of $10.34 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. Assurant has a twelve month low of $141.83 and a twelve month high of $201.55. The business’s fifty day moving average is $186.48 and its 200-day moving average is $178.01. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.89 earnings per share. Equities research analysts forecast that Assurant will post 16.54 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Assurant Company Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.