Assurant, Inc. (AIZ) to Distribute Quarterly Dividend of $0.68 on June 20th

Assurant, Inc. (NYSE:AIZGet Rating) declared a quarterly dividend on Thursday, May 12th, RTT News reports. Shareholders of record on Tuesday, May 31st will be given a dividend of 0.68 per share by the financial services provider on Monday, June 20th. This represents a $2.72 annualized dividend and a yield of 1.50%.

Assurant has raised its dividend by an average of 5.3% per year over the last three years and has raised its dividend every year for the last 18 years. Assurant has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $14.55 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 18.7%.

Shares of NYSE AIZ opened at $181.62 on Friday. The company has a market capitalization of $9.82 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.82 and a beta of 0.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.25 and a quick ratio of 0.42. The company has a 50 day simple moving average of $182.15 and a 200-day simple moving average of $166.33. Assurant has a 1 year low of $144.18 and a 1 year high of $194.12.

Assurant (NYSE:AIZGet Rating) last posted its earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.98. Assurant had a return on equity of 11.23% and a net margin of 13.23%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Assurant will post 12.88 EPS for the current year.

In other Assurant news, CAO Francesca Luthi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $181.81, for a total value of $727,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Lonergan sold 2,200 shares of the company’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $183.19, for a total value of $403,018.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Assurant by 8.2% during the second quarter. Morgan Stanley now owns 225,092 shares of the financial services provider’s stock worth $35,154,000 after buying an additional 17,078 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Assurant by 1,052.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 46,569 shares of the financial services provider’s stock worth $7,258,000 after buying an additional 42,527 shares during the period. MML Investors Services LLC increased its stake in shares of Assurant by 168.8% during the fourth quarter. MML Investors Services LLC now owns 4,330 shares of the financial services provider’s stock worth $675,000 after buying an additional 2,719 shares during the period. Marshall Wace LLP purchased a new stake in shares of Assurant during the fourth quarter worth approximately $260,000. Finally, Stifel Financial Corp increased its stake in shares of Assurant by 5.5% during the fourth quarter. Stifel Financial Corp now owns 6,300 shares of the financial services provider’s stock worth $982,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.

Several analysts recently issued reports on AIZ shares. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Thursday, April 7th. Morgan Stanley lifted their price target on shares of Assurant from $197.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. Finally, Truist Financial upped their price objective on shares of Assurant from $210.00 to $220.00 in a report on Friday, March 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $195.74.

Assurant Company Profile (Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

Further Reading

Dividend History for Assurant (NYSE:AIZ)

Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.