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

Key Points

• Analysts maintain a positive outlook on Assurant: Ten firms give the stock a consensus “Moderate Buy” rating, with nine buys and one hold. The average 12-month price target is $291.43, above the reported $282.44 share price.
• Assurant’s latest quarterly results exceeded expectations, with EPS of $5.95 versus the $5.29 consensus and revenue of $3.42 billion, up 11.3% year over year. The company also announced a quarterly dividend of $0.88 per share, representing a 1.2% annualized yield.
• Insiders sold shares while institutions increased holdings: Insiders sold 36,000 shares worth approximately $9.2 million during the quarter, while institutional investors own 92.65% of the company and several firms added to their positions.

Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $291.4286.

A number of research firms recently issued reports on AIZ. Royal Bank Of Canada set a $310.00 target price on Assurant in a research note on Wednesday, June 17th. UBS Group lifted their price target on shares of Assurant from $270.00 to $274.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Piper Sandler reiterated an "overweight" rating on shares of Assurant in a report on Monday, June 22nd. Truist Financial increased their price objective on shares of Assurant from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a report on Saturday, July 25th.

Insider Transactions at Assurant

In other news, EVP Robert Lonergan sold 7,000 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the completion of the transaction, the executive vice president directly owned 27,374 shares of the company's stock, valued at $7,191,423.54. This represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Keith Meier sold 25,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president owned 18,552 shares of the company's stock, valued at approximately $4,717,959.12. The trade was a 57.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 36,000 shares of company stock worth $9,211,620. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Assurant

Institutional investors have recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. grew its stake in shares of Assurant by 12.1% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 2,605 shares of the financial services provider's stock worth $700,000 after acquiring an additional 282 shares in the last quarter. Czech National Bank lifted its position in shares of Assurant by 3.4% in the second quarter. Czech National Bank now owns 14,103 shares of the financial services provider's stock worth $3,787,000 after purchasing an additional 464 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Assurant by 14.1% during the second quarter. GAMMA Investing LLC now owns 2,764 shares of the financial services provider's stock worth $742,000 after purchasing an additional 342 shares during the last quarter. Arlington Trust Co LLC boosted its holdings in Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider's stock worth $34,000 after purchasing an additional 57 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Assurant by 21.4% in the first quarter. Parallel Advisors LLC now owns 386 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Stock Up 0.5%

NYSE:AIZ opened at $282.44 on Friday. Assurant has a 1 year low of $184.15 and a 1 year high of $284.64. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 14.45 and a beta of 0.55. The stock has a 50-day moving average price of $266.37 and a two-hundred day moving average price of $242.38.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping analysts' consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm posted $5.79 earnings per share. Assurant's revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Assurant will post 21.04 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 8th. Assurant's dividend payout ratio is 18.01%.

About Assurant

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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