Assurant, Inc. (NYSE:AIZ) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Ten brokerages give Assurant an average rating of "Moderate Buy" (8 buys, 2 holds) with a 12‑month average price target of $256.83, while recent notes range from Truist raising its target to $280 to Morgan Stanley and BMO trimming theirs.
• Earnings beat: Assurant reported quarterly EPS of $5.61 vs. $5.55 expected and revenue of $3.35B vs. $3.28B, with revenue up 7.9% year‑over‑year and sell‑side analysts forecasting ~20.75 EPS for the fiscal year.
• Valuation & dividend: Shares traded near $229.14 (market cap $11.39B, PE 13.5, 52‑week range $183.39–$246.31); the company pays a quarterly dividend of $0.88 ($3.52 annualized) for a yield of ~1.5% and a payout ratio around 20.7%.

Assurant, Inc. (NYSE:AIZ - Get Free Report) has received an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $256.8333.

A number of research analysts recently weighed in on AIZ shares. Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Assurant in a research note on Monday, December 29th. Morgan Stanley decreased their price target on shares of Assurant from $248.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. BMO Capital Markets decreased their price target on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a research note on Thursday, February 12th. Finally, Truist Financial raised their price target on shares of Assurant from $265.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, February 12th.

Assurant Trading Up 1.3%

Shares of Assurant stock opened at $229.14 on Wednesday. The firm has a market capitalization of $11.39 billion, a PE ratio of 13.50 and a beta of 0.56. Assurant has a twelve month low of $183.39 and a twelve month high of $246.31. The firm's 50-day moving average price is $220.76 and its 200 day moving average price is $225.63. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.55 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. Assurant's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $4.79 EPS. On average, sell-side analysts predict that Assurant will post 20.75 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Assurant's dividend payout ratio (DPR) is 20.74%.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 750 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the transaction, the chief accounting officer directly owned 4,741 shares of the company's stock, valued at $1,000,256.18. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Subhashish Sengupta sold 1,880 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the transaction, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This trade represents a 39.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,650 shares of company stock worth $558,331 over the last three months. Corporate insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. purchased a new position in Assurant in the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its stake in Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock worth $27,000 after purchasing an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Assurant in the 2nd quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its stake in Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider's stock worth $32,000 after purchasing an additional 59 shares in the last quarter. Finally, BOKF NA purchased a new position in Assurant in the 3rd quarter worth approximately $32,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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