Weekly Investment Analysts’ Ratings Changes for Assurant (AIZ)

Several brokerages have updated their recommendations and price targets on shares of Assurant (NYSE: AIZ) in the last few weeks:

• 10/2/2024 – Assurant had its price target raised by analysts at Piper Sandler from $200.00 to $217.00. They now have a “neutral” rating on the stock.
• 9/24/2024 – Assurant was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/23/2024 – Assurant had its price target raised by analysts at UBS Group AG from $217.00 to $224.00. They now have a “buy” rating on the stock.
• 9/12/2024 – Assurant was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/2/2024 – Assurant was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/22/2024 – Assurant was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $200.00 price target on the stock.
• 8/16/2024 – Assurant was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/14/2024 – Assurant had its price target raised by analysts at Keefe, Bruyette & Woods from $186.00 to $194.00. They now have a “market perform” rating on the stock.
• 8/13/2024 – Assurant had its price target raised by analysts at UBS Group AG from $210.00 to $217.00. They now have a “buy” rating on the stock.
• 8/8/2024 – Assurant was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Assurant Price Performance

NYSE:AIZ traded down $3.19 during mid-day trading on Thursday, hitting $196.47. 388,658 shares of the company’s stock traded hands, compared to its average volume of 350,806. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a 1 year low of $142.01 and a 1 year high of $201.55. The company has a market cap of $10.21 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. The firm’s 50 day simple moving average is $188.20 and its 200 day simple moving average is $178.42.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business 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 firm posted $3.89 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio is presently 20.10%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Assurant

Several large investors have recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its holdings in Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after buying an additional 59 shares during the period. Empirical Finance LLC lifted its position in shares of Assurant by 3.3% in the first quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 64 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Assurant by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 73 shares during the last quarter. Richardson Financial Services Inc. boosted its position in 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 purchasing an additional 77 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Assurant by 35.7% during the 1st quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.