Assurant Inc. (AIZ) Hits New 1-Year High at $89.67
Assurant Inc. (NYSE:AIZ) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $89.67 and last traded at $89.38, with a volume of 106,822 shares changing hands. The stock had previously closed at $88.72.
A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Assurant from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Goldman Sachs Group Inc. cut shares of Assurant to a “buy” rating and set a $95.00 target price for the company. in a report on Sunday, July 17th. DOWLING & PARTN reaffirmed a “neutral” rating on shares of Assurant in a report on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $77.00 target price on shares of Assurant in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Assurant has a consensus rating of “Hold” and a consensus target price of $90.60.
The firm has a market cap of $5.38 billion and a price-to-earnings ratio of 13.19. The company’s 50 day moving average is $86.07 and its 200-day moving average is $82.33.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. During the same period last year, the firm earned $2.07 earnings per share. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.71 billion. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. Equities research analysts predict that Assurant Inc. will post $5.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 25th.
In other Assurant news, Director Robert W. Stein sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $84.01, for a total transaction of $210,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Andrew Sondej sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $86.04, for a total transaction of $430,200.00. The disclosure for this sale can be found here.
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