Assurant, Inc. (NYSE:AIZ) Receives $207.60 Average Price Target from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $207.60.

A number of brokerages recently commented on AIZ. Bank of America lowered their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. UBS Group increased their price target on shares of Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods lifted their price objective on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a report on Thursday, August 22nd. Finally, StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Insider Buying and Selling at Assurant

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in Assurant by 6.8% during the fourth quarter. CWM LLC now owns 976 shares of the financial services provider’s stock worth $164,000 after buying an additional 62 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Assurant in the 4th quarter valued at $470,000. Truist Financial Corp lifted its stake in shares of Assurant by 305.5% during the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 6,077 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Assurant by 22.9% during the fourth quarter. Russell Investments Group Ltd. now owns 52,573 shares of the financial services provider’s stock worth $8,852,000 after purchasing an additional 9,812 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Assurant by 5.2% during the fourth quarter. Savant Capital LLC now owns 3,009 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Price Performance

AIZ stock opened at $196.35 on Friday. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.66 and a beta of 0.54. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $175.21 and a 200-day moving average of $175.67. Assurant has a 12-month low of $136.88 and a 12-month high of $197.26.

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

Assurant Announces Dividend

The company 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 dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.47%. Assurant’s dividend payout ratio (DPR) is currently 20.10%.

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.