Assurant, Inc. (NYSE:AIZ) Given Consensus Rating of “Buy” by Analysts

Assurant, Inc. (NYSE:AIZ) has received a consensus rating of “Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $275.8333.

Several research analysts have weighed in on AIZ shares. UBS Group lifted their target price on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Piper Sandler lifted their price target on Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Truist Financial lifted their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, June 9th. Finally, Morgan Stanley upgraded Assurant from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $240.00 to $285.00 in a research note on Thursday, May 14th.

Assurant Trading Down 0.6%

Shares of AIZ stock opened at $259.34 on Thursday. The business’s 50 day moving average is $240.89 and its two-hundred day moving average is $233.20. Assurant has a twelve month low of $183.39 and a twelve month high of $262.99. The company has a market capitalization of $12.85 billion, a P/E ratio of 13.27 and a beta of 0.56. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last announced its 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. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the business posted $5.79 EPS. The company’s revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that Assurant will post 21.04 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 8th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, June 8th. Assurant’s payout ratio is presently 18.01%.

Insider Transactions at Assurant

In other Assurant news, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares in the company, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith Meier sold 25,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the sale, the executive vice president owned 18,552 shares in the company, valued at approximately $4,717,959.12. The trade was a 57.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,650 shares of company stock valued at $7,930,981 in the last three months. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Assurant

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Assurant by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock valued at $27,076,000 after purchasing an additional 16,388 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in Assurant by 25.6% in the third quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock valued at $59,537,000 after purchasing an additional 56,009 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Assurant by 16.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 185,949 shares of the financial services provider’s stock valued at $44,786,000 after purchasing an additional 26,678 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Assurant by 603.6% in the third quarter. HighTower Advisors LLC now owns 7,142 shares of the financial services provider’s stock valued at $1,547,000 after purchasing an additional 6,127 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its holdings in Assurant by 2.1% in the third quarter. Clark Capital Management Group Inc. now owns 310,802 shares of the financial services provider’s stock valued at $67,320,000 after purchasing an additional 6,277 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.