Assurant, Inc. (NYSE:AIZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $234.17.

A number of analysts recently issued reports on AIZ shares. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $212.00 to $230.00 in a report on Thursday. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target on the stock.

Assurant Stock Performance

Shares of AIZ opened at $201.22 on Friday. The stock’s 50-day simple moving average is $210.44 and its 200 day simple moving average is $203.47. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 13.91 and a beta of 0.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.42 and a current ratio of 0.64. Assurant has a 52-week low of $160.12 and a 52-week high of $230.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Research analysts forecast that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.59%. Assurant’s payout ratio is currently 22.11%.

Insider Buying and Selling at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

A number of large investors have recently modified their holdings of AIZ. True Wealth Design LLC purchased a new position in shares of Assurant during the 3rd quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.