Brokerages Set Assurant Inc. (NYSE:AIZ) Price Target at $89.25
Assurant Inc. (NYSE:AIZ) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $89.25.
AIZ has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $77.00 price target on shares of Assurant in a report on Wednesday, July 6th. Goldman Sachs Group Inc. downgraded Assurant to a “buy” rating and set a $95.00 price target for the company. in a report on Sunday, July 17th. Finally, DOWLING & PARTN reiterated a “neutral” rating on shares of Assurant in a report on Tuesday, August 23rd.
In other news, Director Robert W. Stein sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $84.01, for a total transaction of $210,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Andrew Sondej sold 5,000 shares of the firm’s 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. Insiders own 0.85% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of 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 during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. Endeavour Capital Advisors Inc. boosted its position in shares of 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 during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in shares of 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 during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of 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 during the last quarter. Institutional investors own 94.52% of the company’s stock.
Shares of Assurant (NYSE:AIZ) opened at 92.25 on Tuesday. Assurant has a one year low of $64.36 and a one year high of $92.63. The firm’s 50-day moving average price is $88.74 and its 200-day moving average price is $85.05. The stock has a market capitalization of $5.55 billion, a P/E ratio of 13.61 and a beta of 0.69.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. Assurant had a return on equity of 8.08% and a net margin of 4.97%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $2.07 EPS. The company’s revenue for the quarter was down 32.0% compared to the same quarter last year. Equities research analysts anticipate that Assurant will post $5.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, August 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. Assurant’s dividend payout ratio is presently 28.94%.
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