Assurant, Inc. (NYSE:AIZ) Receives $243.00 Consensus PT from Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $243.8333.

Several equities analysts have recently commented on AIZ shares. UBS Group increased their price objective on Assurant from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Truist Financial set a $255.00 price objective on Assurant in a research report on Wednesday, October 29th. BMO Capital Markets started coverage on Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 price objective on the stock. Benchmark started coverage on Assurant in a research report on Tuesday, August 12th. They set a “buy” rating on the stock. Finally, Piper Sandler increased their price objective on Assurant from $238.00 to $248.00 and gave the company an “overweight” rating in a research report on Friday, October 10th.

Assurant Price Performance

Shares of NYSE AIZ opened at $214.55 on Wednesday. The firm has a market capitalization of $10.83 billion, a P/E ratio of 15.54 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $213.56 and its two-hundred day simple moving average is $202.85. Assurant has a twelve month low of $174.97 and a twelve month high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. The firm had revenue of $2.42 billion for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, equities analysts anticipate that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were given a $0.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 1.5%. Assurant’s payout ratio is presently 23.17%.

Insider Activity

In other news, CEO Keith Demmings sold 13,725 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the completion of the sale, the chief executive officer owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the sale, the executive vice president directly owned 7,875 shares of the company’s stock, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,125 shares of company stock valued at $5,917,925. 0.51% of the stock is currently owned by company insiders.

Institutional Trading of Assurant

A number of institutional investors have recently made changes to their positions in AIZ. Bank of New York Mellon Corp boosted its stake in shares of Assurant by 23.7% during the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after purchasing an additional 959,259 shares during the period. Norges Bank purchased a new stake in shares of Assurant during the second quarter valued at approximately $131,300,000. Qube Research & Technologies Ltd grew its position in shares of Assurant by 482.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock worth $122,805,000 after buying an additional 515,127 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Assurant by 685.2% in the 3rd quarter. Voya Investment Management LLC now owns 452,293 shares of the financial services provider’s stock worth $97,851,000 after buying an additional 394,694 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Assurant by 1,222.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 356,064 shares of the financial services provider’s stock worth $70,319,000 after buying an additional 329,131 shares during the last quarter. Hedge funds and other institutional investors 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.