Analysts Set Assurant, Inc. (NYSE:AIZ) PT at $183.80

Assurant, Inc. (NYSE:AIZ) has received a consensus rating of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $183.80.

Several equities research analysts have commented on AIZ shares. Morgan Stanley boosted their target price on shares of Assurant from $184.00 to $191.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. Piper Sandler started coverage on shares of Assurant in a research report on Thursday, October 14th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, UBS Group decreased their target price on shares of Assurant from $183.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday.

In related news, CEO Alan B. Colberg sold 13,400 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $165.43, for a total value of $2,216,762.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.78% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Assurant by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,124,917 shares of the financial services provider’s stock valued at $1,112,770,000 after purchasing an additional 350,826 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Assurant by 14.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,300,723 shares of the financial services provider’s stock valued at $359,326,000 after purchasing an additional 291,234 shares during the last quarter. Amundi acquired a new position in Assurant in the 2nd quarter valued at about $25,069,000. FMR LLC raised its stake in Assurant by 4.3% in the 2nd quarter. FMR LLC now owns 3,761,031 shares of the financial services provider’s stock valued at $587,398,000 after purchasing an additional 155,671 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Assurant by 12.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,137,931 shares of the financial services provider’s stock valued at $177,270,000 after purchasing an additional 127,249 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Shares of AIZ opened at $154.89 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market capitalization of $8.83 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.76 and a beta of 0.64. The company’s fifty day moving average is $156.24 and its two-hundred day moving average is $159.73. Assurant has a 1 year low of $121.55 and a 1 year high of $172.22.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 2nd. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.49). The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. Assurant had a net margin of 13.65% and a return on equity of 9.03%. During the same period in the prior year, the firm posted $1.41 earnings per share. Sell-side analysts predict that Assurant will post 9.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 21st. Investors of record on Monday, February 28th will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 25th. This represents a $2.72 annualized dividend and a dividend yield of 1.76%. Assurant’s dividend payout ratio is presently 11.82%.

Assurant Company Profile

Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.

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Analyst Recommendations for Assurant (NYSE:AIZ)

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