Assurant, Inc. (NYSE:AIZ) Receives $252.67 Consensus Price Target from Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $252.6667.

A number of analysts have recently issued reports on AIZ shares. Truist Financial set a $255.00 target price on shares of Assurant in a research note on Wednesday, October 29th. UBS Group increased their price target on shares of Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a report on Monday, November 10th. Piper Sandler raised their price objective on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Zacks Research downgraded Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Keefe, Bruyette & Woods increased their target price on Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th.

Assurant Stock Up 1.1%

Shares of AIZ stock opened at $237.68 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant has a 1 year low of $174.97 and a 1 year high of $243.76. The firm’s fifty day moving average price is $231.49 and its two-hundred day moving average price is $214.93. The firm has a market capitalization of $11.90 billion, a P/E ratio of 14.47 and a beta of 0.56.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $5.73 earnings per share for the quarter, beating the consensus estimate of $4.23 by $1.50. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company earned $3.00 EPS. Assurant’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 1st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, December 1st. This is a positive change from Assurant’s previous quarterly dividend of $0.80. Assurant’s dividend payout ratio (DPR) is 21.42%.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 910 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Assurant by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after buying an additional 47,548 shares during the period. United Services Automobile Association acquired a new stake in Assurant during the first quarter worth approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Assurant by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider’s stock worth $74,357,000 after acquiring an additional 24,153 shares during the period. Finally, Jane Street Group LLC increased its stake in Assurant by 80.9% during the 1st quarter. Jane Street Group LLC now owns 103,211 shares of the financial services provider’s stock worth $21,649,000 after acquiring an additional 46,156 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.