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

Shares of Assurant, Inc. (NYSE:AIZ) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $258.1667.

AIZ has been the subject of a number of recent research reports. UBS Group boosted their target price on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Truist Financial increased their target price on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler lifted their target price on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, BMO Capital Markets reduced their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday.

Institutional Trading of Assurant

A number of institutional investors have recently made changes to their positions in AIZ. Bank of New York Mellon Corp increased its stake in shares of Assurant by 23.7% in the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock worth $1,085,247,000 after buying an additional 959,259 shares during the period. Norges Bank bought a new stake in Assurant in the 4th quarter worth $161,574,000. Qube Research & Technologies Ltd increased its position in shares of Assurant by 482.8% in the second quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock valued at $122,805,000 after acquiring an additional 515,127 shares during the period. Voya Investment Management LLC raised its stake in shares of Assurant by 685.2% during the third quarter. Voya Investment Management LLC now owns 452,293 shares of the financial services provider’s stock valued at $97,851,000 after acquiring an additional 394,694 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Assurant by 1,222.0% during the second quarter. Jupiter Asset Management Ltd. now owns 356,064 shares of the financial services provider’s stock worth $70,319,000 after purchasing an additional 329,131 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE:AIZ opened at $214.05 on Friday. The company’s fifty day moving average price is $235.62 and its 200-day moving average price is $221.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 12.61 and a beta of 0.56. Assurant has a one year low of $174.97 and a one year high of $246.31.

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

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Assurant’s dividend payout ratio (DPR) is presently 21.42%.

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.