Assurant (NYSE:AIZ) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Assurant (NYSE:AIZGet Rating) from a buy rating to a hold rating in a research note released on Monday morning.

AIZ has been the topic of a number of other research reports. Truist Financial upped their price target on shares of Assurant from $210.00 to $220.00 in a research report on Friday, March 25th. Morgan Stanley upped their price objective on shares of Assurant from $197.00 to $215.00 and gave the company an overweight rating in a report on Monday, March 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Assurant has a consensus rating of Moderate Buy and a consensus target price of $193.48.

Shares of AIZ opened at $169.31 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $9.16 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 0.78 and a beta of 0.56. The firm’s fifty day simple moving average is $181.02 and its two-hundred day simple moving average is $169.96. Assurant has a 12 month low of $144.18 and a 12 month high of $194.12.

Assurant (NYSE:AIZGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.89. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 earnings per share. As a group, research analysts predict that Assurant will post 12.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.72 annualized dividend and a dividend yield of 1.61%. Assurant’s dividend payout ratio is currently 11.89%.

In related news, EVP Robert Lonergan sold 2,200 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $183.19, for a total value of $403,018.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Francesca Luthi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $181.81, for a total transaction of $727,240.00. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Tcwp LLC purchased a new stake in Assurant in the 1st quarter valued at about $27,000. Parkside Financial Bank & Trust increased its stake in Assurant by 353.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. Parallel Advisors LLC increased its stake in Assurant by 197.2% in the 1st quarter. Parallel Advisors LLC now owns 211 shares of the financial services provider’s stock valued at $38,000 after buying an additional 140 shares during the last quarter. Covestor Ltd increased its stake in Assurant by 453.2% in the 1st quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock valued at $47,000 after buying an additional 213 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Assurant in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 91.36% of the company’s stock.

Assurant Company Profile (Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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