Assurant, Inc. (AIZ) – What Are Analysts Thinking About This Stock?

Shares of Assurant, Inc. (NYSE:AIZ) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $324.29.

Several research firms have recently weighed in on AIZ. Piper Sandler increased their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Morgan Stanley cut their target price on shares of Assurant from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. UBS Group upped their price target on shares of Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Assurant from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,931 shares of Assurant stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the transaction, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. The trade was a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Assurant

Several institutional investors have recently added to or reduced their stakes in the stock. First Bancorp Inc ME purchased a new position in shares of Assurant in the 2nd quarter valued at approximately $31,000. Arlington Trust Co LLC increased its holdings in shares of Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the period. Transamerica Financial Advisors LLC purchased a new stake in shares of Assurant during the second quarter worth approximately $40,000. Western Wealth Management LLC purchased a new stake in shares of Assurant during the first quarter worth approximately $33,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Assurant by 27.5% during the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 0.9%

Shares of NYSE AIZ opened at $270.95 on Wednesday. The business has a 50-day moving average price of $278.69 and a 200 day moving average price of $261.48. The stock has a market cap of $13.36 billion, a PE ratio of 12.94 and a beta of 0.52. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. Assurant has a 52-week low of $206.03 and a 52-week high of $303.94.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.56 earnings per share. Equities research analysts forecast that Assurant will post 22.40 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, August 31st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 31st. Assurant’s dividend payout ratio (DPR) is presently 16.81%.

Assurant Company Profile

Assurant, Inc is a global business services company that provides insurance products and related services supporting major purchases and everyday needs. Its offerings are distributed through partnerships with mobile carriers, retailers, automotive manufacturers and dealers, financial institutions, housing providers, and other businesses.

Through its Global Lifestyle business, Assurant provides mobile device protection, extended service contracts, vehicle service contracts, and related protection products.