Assurant (NYSE:AIZ) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Assurant (NYSE:AIZ) from a hold rating to a buy rating in a report released on Wednesday.

AIZ has been the subject of several other reports. UBS Group boosted their price objective on Assurant from $217.00 to $224.00 and gave the company a buy rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods upped their price target on Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research report on Wednesday, August 14th. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a neutral rating in a report on Wednesday, October 2nd. Finally, Bank of America dropped their target price on shares of Assurant from $223.00 to $222.00 and set a buy rating on the stock in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $214.60.

Assurant Stock Performance

Shares of AIZ opened at $191.89 on Wednesday. Assurant has a 52-week low of $144.61 and a 52-week high of $201.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.61 and a beta of 0.57. The business’s 50 day moving average is $190.78 and its two-hundred day moving average is $179.02.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.89 EPS. Analysts forecast that Assurant will post 16.54 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.50%. Assurant’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in Assurant in the second quarter worth about $31,000. Richardson Financial Services Inc. lifted its stake in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares during the period. Quarry LP acquired a new position in shares of Assurant during the fourth quarter valued at approximately $51,000. Family Firm Inc. bought a new stake in Assurant during the second quarter worth approximately $51,000. Finally, Covestor Ltd lifted its position in Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 91 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Company Profile

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.