Assurant Inc. (AIZ) Hits New 52-Week High at $90.65
Assurant Inc. (NYSE:AIZ) shares hit a new 52-week high during trading on Monday . The company traded as high as $90.65 and last traded at $90.13, with a volume of 423,841 shares trading hands. The stock had previously closed at $87.86.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Assurant from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Goldman Sachs Group Inc. downgraded Assurant to a “buy” rating and set a $95.00 price target for the company. in a research note on Sunday, July 17th. DOWLING & PARTN reiterated a “neutral” rating on shares of Assurant in a research note on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $77.00 price target on shares of Assurant in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Assurant has a consensus rating of “Hold” and an average price target of $90.60.
The firm has a market capitalization of $5.42 billion, a PE ratio of 13.30 and a beta of 0.69. The firm’s 50 day moving average is $87.24 and its 200 day moving average is $84.32.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.71 billion. Assurant had a return on equity of 8.08% and a net margin of 4.97%. The business’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Analysts forecast that Assurant Inc. will post $5.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 25th. Assurant’s payout ratio is presently 28.94%.
In other Assurant news, Director Robert W. Stein sold 2,500 shares of Assurant stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $84.01, for a total value of $210,025.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John Andrew Sondej sold 5,000 shares of Assurant stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $86.04, for a total value of $430,200.00. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AIZ. Wellington Management Group LLP increased its stake in Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock valued at $120,471,000 after buying an additional 220,377 shares in the last quarter. Renaissance Technologies LLC increased its stake in Assurant by 6.0% in the first quarter. Renaissance Technologies LLC now owns 411,100 shares of the company’s stock valued at $31,716,000 after buying an additional 23,415 shares in the last quarter. Endeavour Capital Advisors Inc. increased its stake in Assurant by 3.2% in the first quarter. Endeavour Capital Advisors Inc. now owns 353,460 shares of the company’s stock valued at $27,269,000 after buying an additional 10,805 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Assurant by 6.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 15,772 shares of the company’s stock valued at $1,217,000 after buying an additional 1,015 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Assurant by 0.3% in the first quarter. BlackRock Group LTD now owns 519,260 shares of the company’s stock valued at $40,060,000 after buying an additional 1,543 shares in the last quarter. 94.52% of the stock is currently owned by hedge funds and other institutional investors.
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