Assurant Inc. (AIZ) to Issue Quarterly Dividend of $0.53 on December 12th
Assurant Inc. (NYSE:AIZ) announced a quarterly dividend on Monday, November 14th. Stockholders of record on Monday, November 28th will be given a dividend of 0.53 per share on Monday, December 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, November 23rd. This is a positive change from Assurant’s previous quarterly dividend of $0.50.
Shares of Assurant (NYSE:AIZ) opened at 86.32 on Friday. The firm has a market cap of $4.92 billion, a P/E ratio of 9.26 and a beta of 0.86. Assurant has a 12-month low of $64.36 and a 12-month high of $92.63. The stock has a 50 day moving average price of $85.57 and a 200 day moving average price of $86.42.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, October 25th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. Assurant had a return on equity of 6.93% and a net margin of 7.20%. The company’s quarterly revenue was down 27.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 earnings per share. On average, equities analysts expect that Assurant will post $4.19 earnings per share for the current year.
In other Assurant news, EVP Christopher J. Pagano sold 6,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $89.76, for a total value of $538,560.00. Following the transaction, the executive vice president now owns 70,149 shares of the company’s stock, valued at $6,296,574.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.85% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AIZ. Advisor Group Inc. purchased a new position in shares of Assurant during the second quarter worth approximately $193,000. Meiji Yasuda Life Insurance Co purchased a new position in shares of Assurant during the second quarter worth approximately $233,000. Laurion Capital Management LP purchased a new position in shares of Assurant during the second quarter worth approximately $285,000. Stevens Capital Management LP purchased a new position in shares of Assurant during the second quarter worth approximately $291,000. Finally, GAM Holding AG boosted its position in shares of Assurant by 3.5% in the second quarter. GAM Holding AG now owns 3,389 shares of the company’s stock worth $293,000 after buying an additional 116 shares in the last quarter. 98.59% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on AIZ shares. Credit Suisse Group AG started coverage on Assurant in a research report on Friday, October 7th. They set a “neutral” rating and a $93.00 target price on the stock. Bank of America Corp. cut Assurant from a “buy” rating to a “neutral” rating and set a $87.00 target price on the stock. in a research report on Thursday, October 20th. DOWLING & PARTN reaffirmed a “neutral” rating on shares of Assurant in a research report on Tuesday, August 23rd. Finally, Zacks Investment Research raised Assurant from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Assurant currently has a consensus rating of “Hold” and a consensus target price of $90.43.
Assurant, Inc is a provider of specialty protection products and related services. The Company’s segments include Assurant Solution, Assurant Specialty Property and Corporate & Other. The Assurant Solutions segment provides mobile device protection products and services; debt protection administration; credit insurance; extended service products and related services for consumer electronics, appliances and vehicles, and offers pre-funded funeral insurance.
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