Assurant, Inc. (NYSE:AIZ) Receives $243.00 Consensus PT from Brokerages

Assurant, Inc. (NYSE:AIZ) has received an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $243.8333.

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Assurant in a research report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. BMO Capital Markets initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price for the company. Finally, Truist Financial set a $255.00 target price on shares of Assurant in a research report on Wednesday.

Assurant Price Performance

AIZ opened at $212.02 on Wednesday. The firm has a market cap of $10.70 billion, a P/E ratio of 15.35 and a beta of 0.55. The firm has a 50-day moving average of $213.58 and a 200 day moving average of $202.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant has a fifty-two week low of $174.97 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Thursday, March 24th. The financial services provider reported $1.80 earnings per share for the quarter. The company had revenue of $2.42 billion during the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, research analysts expect that Assurant will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant’s dividend payout ratio (DPR) is currently 23.17%.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Demmings sold 13,725 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the transaction, the chief executive officer owned 84,647 shares of the company’s stock, valued at $18,666,356.44. This represents a 13.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,125 shares of company stock worth $5,917,925 over the last quarter. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Assurant

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Assurant in the second quarter valued at approximately $131,300,000. Qube Research & Technologies Ltd boosted its holdings in shares of Assurant by 482.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock worth $122,805,000 after purchasing an additional 515,127 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Assurant by 12.7% during the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock valued at $784,603,000 after buying an additional 420,069 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Assurant by 685.2% during the 3rd quarter. Voya Investment Management LLC now owns 452,293 shares of the financial services provider’s stock valued at $97,851,000 after buying an additional 394,694 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Assurant by 1,222.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 356,064 shares of the financial services provider’s stock valued at $70,319,000 after buying an additional 329,131 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.