Assurant (NYSE:AIZ) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Assurant (NYSE:AIZ) from a market perform rating to an outperform rating in a report released on Thursday, Marketbeat.com reports. The firm currently has $230.00 price objective on the financial services provider’s stock, up from their prior price objective of $212.00.

A number of other analysts also recently weighed in on the company. Truist Financial increased their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley began coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.17.

Assurant Stock Performance

Shares of Assurant stock opened at $201.22 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $210.44 and a two-hundred day moving average price of $203.47. Assurant has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market cap of $10.32 billion, a P/E ratio of 13.91 and a beta of 0.62.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share 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%. As a group, analysts anticipate that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.59%. Assurant’s dividend payout ratio is presently 22.11%.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Assurant

Large investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its position in Assurant by 2.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,021 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 200 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Assurant by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,880 shares of the financial services provider’s stock valued at $31,794,000 after acquiring an additional 6,756 shares in the last quarter. Blue Trust Inc. lifted its position in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 188 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Assurant by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock valued at $34,079,000 after acquiring an additional 24,887 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in Assurant in the 4th quarter valued at about $254,000. 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.