Assurant, Inc. (NYSE:AIZ) Receives $234.17 Consensus Target Price from Brokerages

Assurant, Inc. (NYSE:AIZ) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $234.17.

AIZ has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective on the stock. Truist Financial boosted their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Finally, StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th.

Assurant Price Performance

Shares of NYSE:AIZ opened at $206.84 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $10.51 billion, a P/E ratio of 14.29 and a beta of 0.62. Assurant has a 12 month low of $160.12 and a 12 month high of $230.55. The company’s fifty day moving average price is $209.78 and its 200 day moving average price is $204.37.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, sell-side analysts predict that Assurant will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.55%. Assurant’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of Assurant during the third quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant during the fourth quarter worth $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 161 shares during the period. 92.65% of the stock is currently owned by institutional investors.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.