Assurant, Inc. (AIZ) – What Are Brokerages Thinking About This Stock?

Assurant, Inc. (NYSE:AIZ) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $324.29.

A number of equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on Assurant from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. BMO Capital Markets raised their target price on shares of Assurant from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th.

Assurant Trading Up 0.9%

AIZ opened at $270.95 on Wednesday. Assurant has a 12 month low of $206.03 and a 12 month high of $303.94. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 12.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day moving average price of $278.69 and a 200 day moving average price of $261.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $5.17 by $1.24. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%. Assurant’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.56 EPS. Sell-side analysts expect that Assurant will post 22.40 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 31st. Assurant’s dividend payout ratio (DPR) is presently 16.81%.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,931 shares of Assurant stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the completion of the sale, the executive vice president directly owned 24,247 shares of the company’s stock, valued at approximately $7,333,747.62. The trade was a 13.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Assurant

Institutional investors and hedge funds have recently modified their holdings of the company. First Bancorp Inc ME acquired a new stake in Assurant during the 2nd quarter worth $31,000. Arlington Trust Co LLC lifted its position in Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new stake in Assurant in the second quarter valued at $40,000. Western Wealth Management LLC acquired a new position in Assurant in the first quarter valued at $33,000. Finally, Root Financial Partners LLC boosted its stake in Assurant by 27.5% in the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global business services company that provides insurance products and related services supporting major purchases and everyday needs. Its offerings are distributed through partnerships with mobile carriers, retailers, automotive manufacturers and dealers, financial institutions, housing providers, and other businesses.

Through its Global Lifestyle business, Assurant provides mobile device protection, extended service contracts, vehicle service contracts, and related protection products.