Assurant, Inc. (NYSE:AIZ) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Assurant, Inc. has received an average rating of "Moderate Buy" from analysts, with one sell rating, eight buy ratings, and one strong buy rating.
• The company's stock price target has been adjusted by various firms, with BMO Capital Markets setting a target at $238.00, and Keefe, Bruyette & Woods raising their target to $235.00.
• Assurant reported strong quarterly earnings of $5.56 per share, exceeding estimates, and has declared a quarterly dividend of $0.80 per share with a yield of 1.5%.

Assurant, Inc. (NYSE:AIZ - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $234.8333.

AIZ has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. BMO Capital Markets initiated coverage on shares of Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Assurant in a report on Saturday, September 27th. Finally, Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th.

Assurant Stock Up 0.8%

Assurant stock opened at $220.06 on Friday. The stock has a market capitalization of $11.10 billion, a PE ratio of 15.93 and a beta of 0.55. Assurant has a twelve month low of $174.97 and a twelve month 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. The company has a 50 day moving average of $209.04 and a 200-day moving average of $200.54.

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

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant's dividend payout ratio is 23.17%.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the sale, the chief accounting officer directly owned 3,135 shares of the company's stock, valued at approximately $642,549.60. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the sale, the executive vice president directly owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Assurant

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Assurant by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider's stock worth $1,338,041,000 after acquiring an additional 88,749 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Assurant by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 4,051,114 shares of the financial services provider's stock valued at $800,054,000 after purchasing an additional 310,455 shares during the period. Invesco Ltd. raised its position in shares of Assurant by 28.0% in the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after purchasing an additional 323,573 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Assurant by 4.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,245,022 shares of the financial services provider's stock valued at $245,879,000 after purchasing an additional 53,773 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Assurant by 8.8% in the first 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 purchasing an additional 72,046 shares during the period. 92.65% of the stock is owned by institutional investors.

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.

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