Analysts Set Assurant, Inc. (NYSE:AIZ) Price Target at $229.50

Assurant, Inc. (NYSE:AIZ) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $229.50.

AIZ has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Truist Financial upped their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley started coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target on the stock. Finally, Bank of America upped their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th.

Assurant Stock Down 1.5 %

Shares of AIZ stock opened at $215.34 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $11.04 billion, a PE ratio of 15.36 and a beta of 0.62. The business’s fifty day moving average is $214.72 and its 200-day moving average is $200.13. Assurant has a 1 year low of $160.12 and a 1 year high of $230.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business earned $4.29 earnings per share. Assurant’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect that Assurant will post 15.82 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.49%. Assurant’s dividend payout ratio (DPR) is presently 22.82%.

Insider Activity

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This represents a 12.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AIZ. True Wealth Design LLC bought a new position in shares of Assurant in the third quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Assurant in the 4th quarter valued at approximately $28,000. Huntington National Bank increased its position in Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after buying an additional 163 shares during the period. Brooklyn Investment Group acquired a new position in shares of Assurant during the third quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Assurant in the third quarter valued at approximately $56,000. Institutional investors own 92.65% of the company’s stock.

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.