Assurant, Inc. (AIZ) to Issue Quarterly Dividend of $0.80 on March 31st

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.80 per share by the financial services provider on Monday, March 31st. This represents a $3.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, February 3rd.

Assurant has a dividend payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $17.95 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 17.8%.

Assurant Stock Performance

NYSE:AIZ opened at $211.39 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55. The stock has a market cap of $10.84 billion, a P/E ratio of 15.08 and a beta of 0.62. The firm’s fifty day simple moving average is $215.81 and its 200 day simple moving average is $196.59.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.29 earnings per share. As a group, research analysts predict that Assurant will post 15.38 EPS for the current year.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AIZ shares. Morgan Stanley started coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Truist Financial boosted their target price on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Piper Sandler upped their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $229.50.

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.