Assurant (NYSE:AIZ) Reaches New 52-Week High – What’s Next?

Assurant, Inc. (NYSE:AIZ)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $244.83 and last traded at $244.2580, with a volume of 66750 shares changing hands. The stock had previously closed at $240.39.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AIZ shares. UBS Group raised their price target on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Truist Financial set a $255.00 price target on shares of Assurant in a research note on Wednesday, October 29th. Finally, Zacks Research cut shares of Assurant from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and a consensus target price of $252.67.

Assurant Stock Performance

The company has a market cap of $12.12 billion, a P/E ratio of 14.70 and a beta of 0.56. The stock has a fifty day moving average price of $234.35 and a two-hundred day moving average price of $219.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $1.50. Assurant had a net margin of 6.75% and a return on equity of 18.61%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. Assurant’s payout ratio is currently 21.42%.

Institutional Trading of Assurant

A number of large investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. acquired a new stake in shares of Assurant during the 4th quarter valued at $28,000. Versant Capital Management Inc grew its holdings in shares of Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Assurant during the second quarter valued at $27,000. REAP Financial Group LLC boosted its position in shares of Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 95 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Assurant by 1,133.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 136 shares during the period. 92.65% of the stock is currently owned by institutional investors.

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.