Assurant (NYSE:AIZ) Price Target Raised to $233.00

Assurant (NYSE:AIZ) had its price objective increased by Bank of America from $228.00 to $233.00 in a research report sent to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently commented on AIZ. Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research report on Wednesday, August 14th. UBS Group boosted their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a buy rating in a report on Monday, September 23rd. StockNews.com raised shares of Assurant from a hold rating to a buy rating in a research report on Wednesday. Finally, Piper Sandler lifted their price target on shares of Assurant from $200.00 to $217.00 and gave the company a neutral rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Assurant has an average rating of Moderate Buy and an average price target of $214.60.

Assurant Trading Up 0.8 %

Shares of AIZ stock opened at $191.89 on Thursday. Assurant has a twelve month low of $144.61 and a twelve month high of $201.55. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.61 and a beta of 0.57. The company’s 50-day moving average price is $190.78 and its 200-day moving average price is $179.02. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.50. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. Assurant’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.89 EPS. As a group, equities analysts predict that Assurant will post 16.54 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is 20.10%.

Insider Buying and Selling at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 in the company, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Assurant

Several hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Assurant in the 2nd quarter valued at approximately $31,000. Richardson Financial Services Inc. raised its stake in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Quarry LP acquired a new stake in Assurant in the fourth quarter valued at $51,000. Family Firm Inc. purchased a new stake in Assurant during the 2nd quarter worth about $51,000. Finally, Blue Trust Inc. boosted its position in shares of Assurant by 40.1% during the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

About Assurant

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.