Assurant, Inc. (AIZ) To Go Ex-Dividend on August 31st

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Thursday, August 13th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.88 per share by the financial services provider on Monday, September 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st.

Assurant has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Assurant has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $23.12 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 15.2%.

Assurant Stock Performance

NYSE AIZ opened at $282.76 on Friday. Assurant has a 52-week low of $205.01 and a 52-week high of $303.94. The company has a fifty day moving average of $273.81 and a 200-day moving average of $246.17. The company has a market capitalization of $13.95 billion, a P/E ratio of 13.50 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $1.24. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the firm earned $5.56 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Assurant will post 21.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AIZ has been the topic of a number of research reports. Morgan Stanley raised their price objective on Assurant from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, July 6th. UBS Group increased their price target on shares of Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial lifted their price target on shares of Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Assurant presently has a consensus rating of “Buy” and an average target price of $313.71.

About Assurant

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.