Assurant, Inc. (NYSE:AIZ) Receives $231.57 Consensus Target Price from Analysts

Key Points

• Assurant, Inc. has received a consensus rating of "Moderate Buy" from nine research firms, with an average 12-month price target of $231.57.
• The company reported strong quarterly earnings, with an EPS of $5.56, surpassing expectations, and an 8.0% revenue growth year-over-year.
• Assurant will pay a quarterly dividend of $0.80 per share on September 29th, representing a 1.5% yield and a payout ratio of 23.17%.

Assurant, Inc. (NYSE:AIZ - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and eight 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 $233.2857.

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Stephens initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an "overweight" rating on the stock. Keefe, Bruyette & Woods upped their target price on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Benchmark began coverage on shares of Assurant in a report on Tuesday, August 12th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective for the company.

Assurant Trading Up 1.5%

NYSE:AIZ traded up $3.2250 during midday trading on Friday, hitting $212.3650. The stock had a trading volume of 63,914 shares, compared to its average volume of 488,760. The stock has a 50-day moving average of $194.78 and a 200 day moving average of $198.91. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 15.37 and a beta of 0.58. Assurant has a one year low of $174.97 and a one year high of $230.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, topping the consensus estimate of $4.43 by $1.13. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, sell-side analysts forecast that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is presently 23.17%.

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction on Friday, August 8th. The stock was sold at an average price of $204.96, for a total transaction of $194,712.00. Following the sale, the chief accounting officer owned 3,135 shares of the company's stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. raised its stake in shares of Assurant by 3.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider's stock valued at $264,000 after buying an additional 49 shares during the last quarter. Cresset Asset Management LLC raised its position in Assurant by 5.4% during the second quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 55 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Assurant by 3.9% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 58 shares during the period. Hartford Investment Management Co. boosted its position in Assurant by 1.3% in the 2nd quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider's stock worth $900,000 after purchasing an additional 60 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Assurant by 47.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after purchasing an additional 61 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Company Profile

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.