Assurant, Inc. (NYSE:AIZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Assurant, Inc. (NYSE:AIZ) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $291.4286.

Several brokerages recently weighed in on AIZ. Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Sunday. Keefe, Bruyette & Woods lifted their target price on Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings lowered Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Truist Financial increased their price target on Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Piper Sandler restated an “overweight” rating on shares of Assurant in a report on Monday, June 22nd.

Insider Activity at Assurant

In other news, EVP Keith Meier sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president directly owned 18,552 shares in the company, valued at approximately $4,717,959.12. This represents a 57.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Lonergan sold 7,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the transaction, the executive vice president directly owned 27,374 shares of the company’s stock, valued at $7,191,423.54. The trade was a 20.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,000 shares of company stock valued at $9,211,620 over the last 90 days. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AIZ. Jones Financial Companies Lllp lifted its stake in Assurant by 606.7% during the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 910 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after acquiring an additional 47,548 shares in the last quarter. United Services Automobile Association purchased a new stake in Assurant during the first quarter worth about $203,000. Focus Partners Wealth increased its stake in Assurant by 66.6% during the first quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 1,059 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Price Performance

Shares of AIZ stock opened at $278.94 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $13.82 billion, a PE ratio of 14.27 and a beta of 0.55. The firm’s 50-day moving average is $257.67 and its two-hundred day moving average is $238.69. Assurant has a 12 month low of $183.39 and a 12 month high of $284.12.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.66. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.79 EPS. Analysts predict that Assurant will post 21.04 earnings per share for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were given a dividend of $0.88 per share. The ex-dividend date was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.3%. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.