Assurant (NYSE:AIZ) Hits New 12-Month High at $200.00

Shares of Assurant, Inc. (NYSE:AIZ) hit a new 52-week high during trading on Thursday . The company traded as high as $200.00 and last traded at $199.23, with a volume of 41921 shares traded. The stock had previously closed at $196.54.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target for the company. in a report on Thursday, August 22nd. Bank of America decreased their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group lifted their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.00.

Assurant Trading Up 1.0 %

The firm has a 50 day moving average of $185.34 and a 200-day moving average of $177.76. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $10.32 billion, a P/E ratio of 13.72, a PEG ratio of 1.68 and a beta of 0.57.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the business posted $3.89 EPS. Assurant’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Insider Buying and Selling at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Several hedge funds and other institutional investors have recently modified their holdings of AIZ. Innealta Capital LLC purchased a new position in Assurant during the second quarter worth about $31,000. Richardson Financial Services Inc. increased its stake in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the period. Assetmark Inc. bought a new position in shares of Assurant during the fourth quarter valued at approximately $44,000. Quarry LP purchased a new stake in Assurant in the fourth quarter worth $51,000. Finally, Family Firm Inc. bought a new stake in Assurant in the second quarter valued at $51,000. 92.65% of the stock is currently owned by institutional investors.

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.