Assurant (NYSE:AIZ) Posts Earnings Results, Beats Estimates By $0.83 EPS

Assurant (NYSE:AIZ) announced its quarterly earnings data on Tuesday. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83, Zacks reports. Assurant had a return on equity of 17.42% and a net margin of 6.31%.

Assurant Stock Up 0.2 %

AIZ opened at $213.06 on Wednesday. The stock has a market cap of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant has a 52 week low of $160.12 and a 52 week high of $230.55. The business’s fifty day simple moving average is $213.11 and its 200 day simple moving average is $202.16.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be paid a $0.80 dividend. 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 1.50%. Assurant’s dividend payout ratio is presently 22.82%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIZ. Morgan Stanley began coverage on Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Truist Financial increased their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.50.

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.