Assurant, Inc. (NYSE:AIZ) Receives Average Rating of “Buy” from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $316.5714.

Several research analysts recently weighed in on AIZ shares. Morgan Stanley upped their price target on shares of Assurant from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Truist Financial raised their target price on Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group lifted their price target on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada set a $310.00 price objective on Assurant in a report on Wednesday, June 17th. Finally, Weiss Ratings raised shares of Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th.

Insider Buying and Selling

In other news, EVP Nair Biju sold 3,931 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the sale, the executive vice president directly owned 24,247 shares of the company’s stock, valued at approximately $7,333,747.62. The trade was a 13.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Lonergan sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $262.71, for a total value of $1,838,970.00. Following the transaction, the executive vice president owned 27,374 shares in the company, valued at $7,191,423.54. This trade represents a 20.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by company insiders.

Institutional Trading of Assurant

Several hedge funds have recently made changes to their positions in AIZ. Jones Financial Companies Lllp grew its holdings in shares of Assurant by 606.7% in the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 910 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Assurant by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock worth $60,987,000 after buying an additional 47,548 shares during the period. United Services Automobile Association purchased a new stake in Assurant during the 1st quarter worth approximately $203,000. Focus Partners Wealth lifted its holdings in Assurant by 66.6% during the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after buying an additional 1,059 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Up 1.2%

Shares of NYSE:AIZ opened at $287.56 on Tuesday. The business’s 50 day moving average price is $276.90 and its 200-day moving average price is $248.10. Assurant has a 1 year low of $205.01 and a 1 year high of $303.94. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 13.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.56 EPS. On average, equities research analysts forecast that Assurant will post 22.05 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Assurant’s dividend payout ratio is currently 16.81%.

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.