Assurant, Inc. (AIZ) To Go Ex-Dividend on August 31st

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Thursday, August 13th. Stockholders of record on Monday, August 31st will be given a dividend of 0.88 per share by the financial services provider on Monday, September 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st.

Assurant has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Assurant has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $23.27 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 15.1%.

Assurant Trading Up 0.1%

Shares of Assurant stock opened at $285.69 on Friday. The stock has a fifty day simple moving average of $278.92 and a 200 day simple moving average of $249.28. Assurant has a 12-month low of $205.01 and a 12-month high of $303.94. The company has a market capitalization of $14.09 billion, a P/E ratio of 13.64 and a beta of 0.55. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate of $5.17 by $1.24. The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $5.56 EPS. On average, sell-side analysts anticipate that Assurant will post 22.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Assurant from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. BMO Capital Markets upped their price objective on shares of Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group increased their price objective on shares of Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Truist Financial boosted their target price on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $327.14.

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.