Assurant, Inc. (NYSE:AIZ) Plans Quarterly Dividend of $0.88

Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.88 per share by the financial services provider on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th.

Assurant has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 21 years. Assurant has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $19.12 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 18.4%.

Assurant Trading Down 0.3%

NYSE:AIZ traded down $0.68 during midday trading on Friday, reaching $237.87. 20,192 shares of the stock traded hands, compared to its average volume of 305,690. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant has a 12 month low of $174.97 and a 12 month high of $243.76. The stock has a market capitalization of $11.91 billion, a P/E ratio of 14.46 and a beta of 0.56. The company has a fifty day moving average of $233.84 and a 200 day moving average of $218.10.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $5.73 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $1.50. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.15 billion. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 earnings per share. On average, research analysts predict that Assurant will post 16.88 EPS for the current year.

Wall Street Analyst Weigh In

AIZ has been the topic of several research analyst reports. Truist Financial set a $255.00 price target on shares of Assurant in a research report on Wednesday, October 29th. Piper Sandler upped their target price on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. UBS Group lifted their price target on Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.67.

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.