Assurant, Inc. (NYSE:AIZ) Receives $258.17 Consensus Price Target from Brokerages

Assurant, Inc. (NYSE:AIZ) has been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $258.1667.

AIZ has been the subject of several analyst reports. Piper Sandler raised their target price on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial lifted their price objective on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, BMO Capital Markets reduced their target price on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th.

Assurant Stock Performance

NYSE AIZ opened at $218.37 on Friday. Assurant has a twelve month low of $174.97 and a twelve month high of $246.31. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.85 billion, a P/E ratio of 12.87 and a beta of 0.56. The company’s 50-day simple moving average is $224.49 and its 200 day simple moving average is $224.67.

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

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th were given a $0.88 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a yield of 1.6%. Assurant’s payout ratio is 20.74%.

Insider Transactions at Assurant

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $210.53, for a total transaction of $395,796.40. Following the sale, the executive vice president directly owned 2,895 shares of the company’s stock, valued at approximately $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the sale, the chief accounting officer directly owned 4,741 shares of the company’s stock, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 2,650 shares of company stock worth $558,331. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Assurant

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

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.