Assurant, Inc. (AIZ) Plans Dividend Increase – $0.56 Per Share
Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Monday, November 13th, Wall Street Journal reports. Investors of record on Monday, November 27th will be given a dividend of 0.56 per share by the financial services provider on Monday, December 18th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 24th. This is a boost from Assurant’s previous quarterly dividend of $0.53.
Assurant has raised its dividend by an average of 28.4% annually over the last three years and has raised its dividend every year for the last 13 years. Assurant has a dividend payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Assurant to earn $6.93 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 30.6%.
Assurant (NYSE AIZ) traded down $0.56 on Monday, hitting $98.15. 451,900 shares of the company were exchanged, compared to its average volume of 393,816. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.26. Assurant has a 12 month low of $82.30 and a 12 month high of $106.99. The firm has a market cap of $5,281.62, a price-to-earnings ratio of 38.34, a PEG ratio of 1.37 and a beta of 0.81.
Assurant (NYSE:AIZ) last posted its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.79) by $0.39. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The firm’s revenue was down 13.5% compared to the same quarter last year. sell-side analysts predict that Assurant will post 3.69 earnings per share for the current fiscal year.
A number of research firms recently weighed in on AIZ. SunTrust Banks, Inc. restated a “buy” rating and issued a $115.00 target price on shares of Assurant in a report on Thursday, October 12th. BidaskClub lowered shares of Assurant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.
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Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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