Research Analysts’ Weekly Ratings Changes for Assurant (AIZ)

Several brokerages have updated their recommendations and price targets on shares of Assurant (NYSE: AIZ) in the last few weeks:

• 8/22/2024 – Assurant was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $200.00 price target on the stock.
• 8/16/2024 – Assurant was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/14/2024 – Assurant had its price target raised by analysts at Keefe, Bruyette & Woods from $186.00 to $194.00. They now have a “market perform” rating on the stock.
• 8/13/2024 – Assurant had its price target raised by analysts at UBS Group AG from $210.00 to $217.00. They now have a “buy” rating on the stock.
• 8/8/2024 – Assurant was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/11/2024 – Assurant had its price target lowered by analysts at Bank of America Co. from $223.00 to $222.00. They now have a “buy” rating on the stock.
• 6/28/2024 – Assurant had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $205.00 price target on the stock.

Assurant Stock Performance

Shares of AIZ stock traded up $1.57 on Friday, hitting $191.32. The company’s stock had a trading volume of 15,992 shares, compared to its average volume of 349,593. Assurant, Inc. has a fifty-two week low of $136.15 and a fifty-two week high of $191.32. The company has a market capitalization of $9.95 billion, a PE ratio of 13.35, a PEG ratio of 1.73 and a beta of 0.54. The stock’s 50 day moving average is $172.07 and its 200-day moving average is $174.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm earned $3.89 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that Assurant, Inc. will post 16.04 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.51%. Assurant’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Catalyst Financial Partners LLC boosted its position in Assurant by 4.2% during the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 59 shares during the last quarter. CWM LLC boosted its position in shares of Assurant by 6.8% during the 4th quarter. CWM LLC now owns 976 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 62 shares in the last quarter. Empirical Finance LLC grew its stake in Assurant by 3.3% during the first quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 64 shares during the period. Fifth Third Bancorp increased its holdings in Assurant by 3.8% in the first quarter. Fifth Third Bancorp now owns 1,949 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 71 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Assurant by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock valued at $1,200,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.