Assurant, Inc. (NYSE:AIZ) Receives $234.17 Consensus PT from Analysts

Assurant, Inc. (NYSE:AIZ) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $234.17.

Several brokerages have commented on AIZ. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial increased their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $212.00 to $230.00 in a research report on Thursday. Finally, Morgan Stanley began coverage on shares of Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price for the company.

Assurant Stock Down 0.6 %

Shares of NYSE AIZ opened at $199.73 on Friday. The business’s fifty day simple moving average is $210.08 and its 200-day simple moving average is $203.91. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.41. The stock has a market cap of $10.24 billion, a P/E ratio of 13.80 and a beta of 0.62. Assurant has a 12-month low of $160.12 and a 12-month high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, equities analysts predict that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. Assurant’s dividend payout ratio is currently 22.11%.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Assurant

A number of hedge funds have recently added to or reduced their stakes in AIZ. True Wealth Design LLC acquired a new position in shares of Assurant in the 3rd quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its position in shares of Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of 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 acquiring an additional 163 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.