Analysts Set Assurant, Inc. (NYSE:AIZ) Target Price at $228.67

Assurant, Inc. (NYSE:AIZ - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $228.67.

Several brokerages have issued reports on AIZ. Morgan Stanley set a $217.00 price objective on Assurant and gave the company an "equal weight" rating in a research note on Monday, May 19th. Truist Financial upped their price objective on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their price objective on Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Piper Sandler upgraded Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th.

Insider Transactions at Assurant

In related news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the sale, the executive vice president now directly owns 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.51% of the company's stock.

Institutional Trading of Assurant

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Assurant by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock valued at $784,603,000 after acquiring an additional 420,069 shares during the period. Invesco Ltd. increased its position in Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after acquiring an additional 323,573 shares during the period. Geode Capital Management LLC increased its position in Assurant by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock valued at $299,724,000 after acquiring an additional 10,956 shares during the period. Price T Rowe Associates Inc. MD increased its position in Assurant by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock valued at $186,533,000 after acquiring an additional 72,046 shares during the period. Finally, Northern Trust Corp increased its position in Assurant by 1.1% in the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock valued at $176,401,000 after acquiring an additional 9,142 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Stock Down 0.8%

AIZ traded down $1.63 on Friday, reaching $204.19. The company's stock had a trading volume of 592,435 shares, compared to its average volume of 422,588. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 14.11 and a beta of 0.59. Assurant has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The business's 50 day moving average is $195.69 and its 200 day moving average is $206.56.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business posted $4.78 earnings per share. Assurant's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts forecast that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, June 9th. Assurant's payout ratio is 24.94%.

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.