Brokerages Set Assurant, Inc. (NYSE:AIZ) Target Price at $258.17

Shares of Assurant, Inc. (NYSE:AIZ) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $258.1667.

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. BMO Capital Markets reduced their price objective on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Truist Financial raised their price target on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th.

Institutional Investors Weigh In On Assurant

Several institutional investors have recently bought and sold shares of AIZ. Montag A & Associates Inc. purchased a new position in Assurant during the 4th quarter worth $28,000. Versant Capital Management Inc lifted its position in shares of Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Assurant during the second quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 59 shares during the last quarter. Finally, BOKF NA bought a new stake in Assurant in the 3rd quarter worth about $32,000. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

AIZ stock opened at $227.29 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50-day moving average is $233.18 and its 200-day moving average is $224.18. The stock has a market capitalization of $11.30 billion, a PE ratio of 13.39 and a beta of 0.58. Assurant has a 1 year low of $174.97 and a 1 year high of $246.31.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business earned $4.79 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Assurant’s dividend payout ratio (DPR) is currently 20.74%.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.