Assurant (NYSE:AIZ) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Assurant (NYSE:AIZ) from a buy rating to a hold rating in a research report released on Thursday.

AIZ has been the subject of several other research reports. Keefe, Bruyette & Woods increased their price target on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Assurant has an average rating of “Moderate Buy” and a consensus price target of $214.60.

Assurant Trading Down 0.3 %

Shares of Assurant stock opened at $197.50 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $193.24 and its 200-day simple moving average is $179.29. The stock has a market cap of $10.27 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.61 and a beta of 0.57. Assurant has a 1-year low of $144.61 and a 1-year high of $201.55.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $3.89 EPS. Analysts predict that Assurant will post 16.54 EPS for the current fiscal 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 paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.46%. The ex-dividend date was Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Insider Activity at Assurant

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s 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 directly owns 4,027 shares in the company, valued at $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Assurant

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of Assurant during the second quarter worth approximately $31,000. Richardson Financial Services Inc. increased its position in shares of Assurant by 62.1% in the 2nd 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. Family Firm Inc. acquired a new stake in shares of Assurant in the 2nd quarter valued at $51,000. Blue Trust Inc. lifted 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 purchasing an additional 101 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Assurant by 35.7% during the first 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. Hedge funds and other institutional investors 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.