Assurant, Inc. (NYSE:AIZ) Receives $258.17 Consensus Target Price from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $258.1667.

Several research analysts have weighed in on the company. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley raised their price objective on Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Truist Financial lifted their price objective on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Finally, UBS Group increased their target price on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, November 10th.

Assurant Stock Performance

NYSE:AIZ opened at $222.95 on Tuesday. The firm has a 50 day simple moving average of $232.84 and a 200-day simple moving average of $224.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $11.08 billion, a PE ratio of 13.14 and a beta of 0.58. Assurant has a 1-year low of $174.97 and a 1-year high of $246.31.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the firm posted $4.79 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Assurant’s dividend payout ratio is presently 20.74%.

Institutional Investors Weigh In On Assurant

Several hedge funds have recently modified their holdings of AIZ. Hsbc Holdings PLC raised its stake in Assurant by 13.5% during the fourth quarter. Hsbc Holdings PLC now owns 79,491 shares of the financial services provider’s stock worth $19,184,000 after purchasing an additional 9,433 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Assurant by 366.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 252 shares of the financial services provider’s stock valued at $61,000 after buying an additional 198 shares during the period. DGS Capital Management LLC purchased a new stake in shares of Assurant during the 4th quarter valued at $341,000. Dean Capital Management increased its holdings in shares of Assurant by 3.2% during the 4th quarter. Dean Capital Management now owns 11,237 shares of the financial services provider’s stock worth $2,706,000 after buying an additional 352 shares during the last quarter. Finally, Compound Planning Inc. increased its holdings in shares of Assurant by 14.2% during the 4th quarter. Compound Planning Inc. now owns 1,621 shares of the financial services provider’s stock worth $390,000 after buying an additional 201 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.