Analysts Set Assurant, Inc. (NYSE:AIZ) Target Price at $192.20

Assurant, Inc. (NYSE:AIZ) has been assigned a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $192.20.

Several research firms recently weighed in on AIZ. Keefe, Bruyette & Woods cut shares of Assurant from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $170.00 to $182.00 in a research report on Monday, February 12th. Piper Sandler upped their price objective on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, UBS Group upped their price objective on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, February 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BKM Wealth Management LLC bought a new position in Assurant during the fourth quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd grew its position in Assurant by 104.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of 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 last quarter. First Capital Advisors Group LLC. bought a new position in shares of Assurant in the second quarter worth approximately $32,000. Finally, State of Wyoming bought a new position in shares of Assurant in the fourth quarter worth approximately $32,000. 92.65% of the stock is currently owned by institutional investors.

Assurant Trading Down 0.9 %

Shares of Assurant stock opened at $172.59 on Tuesday. Assurant has a 12-month low of $115.41 and a 12-month high of $189.48. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.21 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 company’s 50-day moving average price is $178.71 and its 200-day moving average price is $167.50.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.78 billion. On average, equities analysts expect that Assurant will post 15.67 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, February 5th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Friday, February 2nd. Assurant’s payout ratio is currently 24.04%.

About Assurant

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.