Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Monday, August 7th, RTT News reports. Stockholders of record on Monday, August 28th will be given a dividend of 0.53 per share by the financial services provider on Tuesday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%.

Assurant has increased its dividend by an average of 28.4% annually over the last three years and has raised its dividend every year for the last 13 years. Assurant has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $7.17 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 29.6%.

Assurant (AIZ) remained flat at $104.94 during mid-day trading on Monday. 23,609 shares of the stock traded hands. The stock’s 50-day moving average price is $104.39 and its 200 day moving average price is $99.46. Assurant has a 12 month low of $78.50 and a 12 month high of $106.99. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 13.79 and a beta of 0.77.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. Analysts forecast that Assurant will post $6.55 EPS for the current year.

In related news, EVP Christopher J. Pagano sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the sale, the executive vice president now directly owns 55,978 shares in the company, valued at $5,762,375.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by corporate insiders.

Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $98.33.

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About Assurant

Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).

Dividend History for Assurant (NYSE:AIZ)

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