Assurant (NYSE:AIZ) Reaches New 1-Year High at $200.00

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

Analyst Upgrades and Downgrades

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

Assurant Price Performance

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 price-to-earnings ratio of 13.72, a P/E/G ratio of 1.68 and a beta of 0.57. The company has a fifty day moving average price of $185.34 and a two-hundred day moving average price of $177.76.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company posted $3.89 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Assurant, Inc. will post 16.54 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insider Activity at Assurant

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

Institutional Investors Weigh In On Assurant

A number of hedge funds have recently made changes to their positions in AIZ. Innealta Capital LLC bought a new position in shares of Assurant in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. raised 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 worth $33,000 after buying an additional 77 shares during the last quarter. Assetmark Inc. acquired a new stake in Assurant during the 4th quarter worth $44,000. Quarry LP acquired a new stake in shares of Assurant during the fourth quarter worth $51,000. Finally, Family Firm Inc. acquired a new position in Assurant in the second quarter valued at about $51,000. Institutional investors and hedge funds 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.