Assurant (NYSE:AIZ) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Assurant (NYSE:AIZ) from a hold rating to a buy rating in a report released on Thursday morning.

A number of other equities analysts have also recently commented on AIZ. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock a market perform rating in a research note on Wednesday, August 14th. UBS Group boosted their price objective on Assurant from $210.00 to $217.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Piper Sandler lowered Assurant from an overweight rating to a neutral rating and set a $200.00 price objective for the company. in a research note on Thursday, August 22nd. Finally, Bank of America dropped their target price on Assurant from $223.00 to $222.00 and set a buy rating for the company in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Assurant presently has an average rating of Moderate Buy and a consensus price target of $207.60.

Assurant Price Performance

NYSE:AIZ opened at $192.24 on Thursday. The business’s 50-day moving average is $180.81 and its 200 day moving average is $176.85. Assurant has a 12 month low of $137.50 and a 12 month high of $199.50. The company has a market capitalization of $9.96 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.89 EPS. On average, equities research analysts forecast that Assurant will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s payout ratio is currently 20.10%.

Insider Activity

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Assurant in the 2nd quarter worth $31,000. Richardson Financial Services Inc. raised its holdings in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Assetmark Inc. purchased a new stake in Assurant in the fourth quarter worth about $44,000. Quarry LP bought a new position in Assurant during the 4th quarter worth about $51,000. Finally, Family Firm Inc. purchased a new position in Assurant during the 2nd quarter valued at about $51,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Company Profile

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.