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

Shares of Assurant, Inc. (NYSE:AIZ) have received a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $252.6667.

AIZ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Zacks Research lowered shares of Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Truist Financial set a $255.00 price objective on Assurant in a research report on Wednesday, October 29th. Finally, Piper Sandler lifted their price objective on Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, December 19th.

Assurant Price Performance

Assurant stock opened at $238.05 on Monday. 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 has a one year low of $174.97 and a one year high of $243.76. The firm has a market capitalization of $11.92 billion, a P/E ratio of 14.49 and a beta of 0.56. The business has a fifty day moving average price of $230.17 and a 200-day moving average price of $214.21.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. The business had revenue of $2.42 billion for the quarter. Assurant had a return on equity of 18.61% and a net margin of 6.75%. As a group, equities research analysts forecast that Assurant will post 16.88 EPS for the current year.

Assurant Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 1st were given a dividend of $0.88 per share. This is a boost from Assurant’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, December 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. Assurant’s dividend payout ratio is 21.42%.

Institutional Investors Weigh In On Assurant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Assurant by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 455,070 shares of the financial services provider’s stock valued at $89,872,000 after acquiring an additional 6,041 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Assurant during the third quarter worth about $22,949,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Assurant by 1,823.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 45,386 shares of the financial services provider’s stock valued at $9,871,000 after purchasing an additional 43,026 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Assurant by 458.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 79,845 shares of the financial services provider’s stock valued at $15,769,000 after purchasing an additional 65,546 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Assurant by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider’s stock valued at $74,357,000 after purchasing an additional 24,153 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

About Assurant

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.