Assurant, Inc. (NYSE:AIZ) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been given an average recommendation of “Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $327.14.

Several research analysts have weighed in on AIZ shares. Royal Bank Of Canada set a $310.00 target price on Assurant in a report on Wednesday, June 17th. BMO Capital Markets raised their price target on Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Morgan Stanley lifted their price objective on Assurant from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Piper Sandler boosted their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th.

Assurant Stock Performance

Shares of AIZ stock opened at $265.07 on Friday. The stock has a market cap of $13.07 billion, a PE ratio of 12.66 and a beta of 0.54. The stock has a 50-day moving average of $281.40 and a 200-day moving average of $256.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. Assurant has a one year low of $206.03 and a one year high of $303.94.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $5.56 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Assurant will post 22.28 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Assurant’s dividend payout ratio is currently 16.81%.

Insider Activity

In related news, EVP Biju Nair sold 3,931 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the sale, the executive vice president directly owned 24,247 shares in the company, valued at $7,333,747.62. This trade represents a 13.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Assurant

A number of large investors have recently added to or reduced their stakes in the company. First Bancorp Inc ME bought a new stake in Assurant in the 2nd quarter valued at approximately $31,000. Arlington Trust Co LLC boosted its position in Assurant by 81.4% during the 2nd quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 57 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Assurant during the 2nd quarter worth approximately $40,000. Western Wealth Management LLC bought a new position in shares of Assurant during the 1st quarter worth approximately $33,000. Finally, Root Financial Partners LLC raised its holdings in shares of Assurant by 27.5% in the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global business services and insurance company that provides protection products and services supporting major purchases and everyday needs. Its offerings are designed to help consumers, businesses and distribution partners manage risks associated with connected devices, housing and transportation.

The company’s Lifestyle segment provides mobile device protection, extended service contracts, vehicle service contracts and related services. Its Global Housing segment offers renters insurance, homeowners insurance, lender-placed insurance and other specialty property products.