Assurant’s (AIZ) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Assurant (NYSE:AIZ) in a report released on Friday, Benzinga reports. The firm currently has a $205.00 target price on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on Assurant from $182.00 to $186.00 and gave the stock a market perform rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $200.25.

Assurant Trading Down 0.6 %

AIZ opened at $166.25 on Friday. Assurant has a one year low of $122.42 and a one year high of $189.48. The stock has a market capitalization of $8.64 billion, a PE ratio of 11.60, a P/E/G ratio of 1.64 and a beta of 0.56. The business’s 50 day moving average price is $172.10 and its 200 day moving average price is $173.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. As a group, equities research analysts expect that Assurant will post 16.19 EPS for the current year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Monday, June 10th. Assurant’s dividend payout ratio (DPR) is 20.10%.

Insider Transactions at Assurant

In other news, COO Francesca Luthi sold 6,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the sale, the chief operating officer now owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the sale, the insider now owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Francesca Luthi sold 6,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the sale, the chief operating officer now directly owns 10,748 shares in the company, valued at approximately $1,895,517.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,788 shares of company stock valued at $2,248,489. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Assurant

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in Assurant by 8.0% in the fourth quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock valued at $30,586,000 after buying an additional 13,395 shares during the last quarter. Naples Money Management LLC purchased a new position in shares of Assurant during the fourth quarter worth about $1,988,000. Truist Financial Corp grew its holdings in shares of Assurant by 305.5% during the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 6,077 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Assurant by 1,035.8% during the fourth quarter. Teacher Retirement System of Texas now owns 51,011 shares of the financial services provider’s stock worth $8,595,000 after purchasing an additional 46,520 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Assurant by 3.0% during the first quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after purchasing an additional 7,150 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

About Assurant

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.