Assurant (NYSE:AIZ) Reaches New 12-Month High at $185.43

Assurant, Inc. (NYSE:AIZ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $185.43 and last traded at $184.73, with a volume of 69172 shares traded. The stock had previously closed at $181.49.

Analysts Set New Price Targets

Several brokerages recently issued reports on AIZ. Piper Sandler lifted their price objective on Assurant from $185.00 to $192.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. UBS Group boosted their price target on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods cut Assurant from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $170.00 to $182.00 in a report on Monday, February 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.60.

Assurant Stock Performance

The company has a market cap of $9.74 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.23 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $175.58 and its 200 day moving average price is $163.81.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.78 billion. On average, analysts expect that Assurant, Inc. will post 16.02 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, February 5th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $2.88 annualized dividend and a yield of 1.54%. Assurant’s payout ratio is 24.04%.

Institutional Trading of Assurant

A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. BKM Wealth Management LLC acquired a new position in Assurant in the fourth quarter worth $25,000. Harvest Fund Management Co. Ltd boosted its holdings in Assurant by 104.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 91 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Assurant by 353.8% in the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 138 shares during the period. Covestor Ltd boosted its holdings in Assurant by 229.9% in the second quarter. Covestor Ltd now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 177 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new position in Assurant in the second quarter worth $32,000. Institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

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.