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

Shares of Assurant, Inc. (NYSE:AIZ) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $234.17.

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

Assurant Stock Up 1.3 %

Shares of AIZ opened at $209.43 on Tuesday. The firm has a fifty day moving average price of $208.84 and a 200-day moving average price of $206.83. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.64 billion, a P/E ratio of 14.47 and a beta of 0.61. Assurant has a 12-month low of $160.12 and a 12-month high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (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%. Equities research analysts expect that Assurant will post 16.88 earnings per share for the current year.

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. This represents a $3.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.11%.

Insider Buying and Selling

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 directly 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 filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Assurant

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in Assurant by 35.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 1,584 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in shares of Assurant in the fourth quarter valued at $1,136,000. Park Square Financial Group LLC purchased a new position in Assurant in the fourth quarter valued at $44,000. Menard Financial Group LLC grew its stake in Assurant by 16.5% during the 4th quarter. Menard Financial Group LLC now owns 1,671 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 237 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Assurant during the 4th quarter worth about $13,502,000. 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.