Analysts Set Assurant, Inc. (NYSE:AIZ) PT at $229.50

Shares of Assurant, Inc. (NYSE:AIZ) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $229.50.

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler raised their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial upped their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America increased their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Several hedge funds have recently added to or reduced their stakes in AIZ. True Wealth Design LLC bought a new stake in shares of Assurant in the 3rd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant in the 4th quarter worth approximately $28,000. Huntington National Bank raised its holdings in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Assurant during the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in Assurant in the 3rd quarter worth approximately $56,000. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of NYSE AIZ opened at $217.01 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 15.48 and a beta of 0.62. The stock’s fifty day moving average price is $215.14 and its two-hundred day moving average price is $199.36. Assurant has a one year low of $160.12 and a one year high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $4.29 EPS. On average, equities analysts forecast that Assurant will post 15.38 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.82%.

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.