Assurant, Inc. (NYSE:AIZ) to Issue Quarterly Dividend of $0.88

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Monday, June 8th will be given a dividend of 0.88 per share by the financial services provider on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 8th.

Assurant has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 21 years. Assurant has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Assurant to earn $22.69 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 15.5%.

Assurant Stock Performance

NYSE AIZ opened at $255.53 on Friday. The firm’s fifty day moving average price is $228.20 and its two-hundred day moving average price is $229.63. The stock has a market cap of $12.66 billion, a PE ratio of 13.07 and a beta of 0.56. Assurant has a fifty-two week low of $183.39 and a fifty-two week high of $260.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. The firm had revenue of $3.42 billion for 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 company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.79 earnings per share. On average, equities analysts expect that Assurant will post 21.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AIZ shares. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. UBS Group boosted their target price on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Truist Financial boosted their target price on shares of Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $272.17.

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.