Brokerages Set Assurant, Inc. (NYSE:AIZ) Target Price at $233.29

Shares of Assurant, Inc. (NYSE:AIZ) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $233.2857.

Several research firms recently weighed in on AIZ. Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating on the stock. Stephens began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an “overweight” rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

Assurant Stock Up 1.9%

Assurant stock opened at $213.36 on Tuesday. The company’s 50 day simple moving average is $201.06 and its 200 day simple moving average is $199.85. Assurant has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 15.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, topping the consensus estimate of $4.43 by $1.13. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm earned $4.77 EPS. Assurant’s quarterly revenue was up 8.0% compared to the same quarter last year. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, sell-side analysts anticipate that Assurant will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant’s payout ratio is presently 23.17%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of Assurant stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the transaction, the executive vice president owned 7,875 shares of the company’s stock, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith Demmings sold 4,275 shares of Assurant stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $220.27, for a total transaction of $941,654.25. Following the completion of the transaction, the chief executive officer directly owned 98,372 shares in the company, valued at approximately $21,668,400.44. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. J.W. Cole Advisors Inc. raised its holdings in shares of Assurant by 3.8% in the second quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 49 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Assurant by 5.4% during the second quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider’s stock worth $212,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC increased its holdings in Assurant by 3.9% during the second quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider’s stock worth $302,000 after buying an additional 58 shares during the last quarter. Hartford Investment Management Co. increased its holdings in Assurant by 1.3% during the second quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider’s stock worth $900,000 after buying an additional 60 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Assurant by 47.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock worth $40,000 after buying an additional 61 shares during the last quarter. 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.