Assurant (NYSE:AIZ) Given New $194.00 Price Target at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its target price increased by Keefe, Bruyette & Woods from $186.00 to $194.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on AIZ. Piper Sandler reaffirmed an overweight rating and set a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. Bank of America decreased their price objective on shares of Assurant from $223.00 to $222.00 and set a buy rating on the stock in a research report on Thursday, July 11th. UBS Group raised their price objective on shares of Assurant from $210.00 to $217.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Finally, StockNews.com downgraded shares of Assurant from a buy rating to a hold rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $208.60.

Assurant Price Performance

Shares of NYSE:AIZ opened at $187.27 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. Assurant has a one year low of $136.15 and a one year high of $189.48. The company has a 50-day simple moving average of $170.50 and a 200-day simple moving average of $174.14. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.73 and a beta of 0.54.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.58 by $0.50. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business earned $3.89 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Assurant will post 16.04 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insider Activity at Assurant

In other news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now directly owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction on Monday, May 20th. The shares were sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Assurant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Assurant during the 4th quarter worth $108,253,000. AQR Capital Management LLC raised its position in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares during the period. AMF Tjanstepension AB bought a new stake in Assurant in the first quarter valued at $39,013,000. Gillson Capital LP bought a new position in shares of Assurant during the fourth quarter worth about $27,013,000. Finally, Northern Trust Corp increased its holdings in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after acquiring an additional 139,680 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.