Analysts Set Assurant, Inc. (NYSE:AIZ) Price Target at $252.67

Shares of Assurant, Inc. (NYSE:AIZGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $252.6667.

A number of research firms have issued reports on AIZ. Morgan Stanley boosted their price target on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. UBS Group boosted their target price on shares of Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Zacks Research downgraded shares of Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Truist Financial set a $255.00 price objective on Assurant in a research note on Wednesday, October 29th.

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More Assurant News

Here are the key news stories impacting Assurant this week:

Hedge Funds Weigh In On Assurant

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Assurant by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider’s stock valued at $1,338,041,000 after purchasing an additional 88,749 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Assurant by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock worth $1,213,968,000 after buying an additional 29,974 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Assurant by 4.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,245,022 shares of the financial services provider’s stock worth $245,879,000 after buying an additional 53,773 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Assurant by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock worth $186,808,000 after buying an additional 113,235 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Assurant in the 4th quarter valued at about $161,574,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.5%

Shares of Assurant stock opened at $236.53 on Friday. Assurant has a twelve month low of $174.97 and a twelve month high of $246.31. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $235.93 and its 200 day moving average is $221.51. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 14.40 and a beta of 0.56.

Assurant (NYSE:AIZGet Free Report) last released its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.06. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm earned $4.79 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Assurant’s payout ratio is presently 21.42%.

Assurant Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Assurant (NYSE:AIZ)

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