Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Monday, August 26th will be given a dividend of 0.60 per share by the financial services provider on Monday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, August 23rd.
Assurant has increased its dividend by an average of 18.5% per year over the last three years and has increased its dividend every year for the last 15 years. Assurant has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $9.72 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 24.7%.
AIZ stock opened at $122.72 on Wednesday. Assurant has a twelve month low of $82.31 and a twelve month high of $125.87. The company has a market cap of $7.61 billion, a PE ratio of 21.16 and a beta of 0.54. The business’s 50-day simple moving average is $114.29 and its 200 day simple moving average is $102.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.35.
A number of research firms recently weighed in on AIZ. UBS Group lifted their target price on Assurant to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. They noted that the move was a valuation call. Morgan Stanley lifted their target price on Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th.
Assurant Company Profile
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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