Assurant, Inc. (NYSE:AIZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $234.17.

A number of research firms have commented on AIZ. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley began coverage on Assurant in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price on the stock. Finally, Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $212.00 to $230.00 in a research report on Thursday, February 20th.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the transaction, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Assurant during the 3rd quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Assurant in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its holdings in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after buying an additional 75 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of Assurant stock opened at $214.67 on Tuesday. Assurant has a one year low of $160.12 and a one year high of $230.55. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 14.84 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50 day moving average price is $208.07 and its 200 day moving average price is $206.31.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, research analysts predict that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.49%. Assurant’s payout ratio is presently 22.11%.

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.