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

Key Points

• Assurant has a consensus analyst rating of “Moderate Buy”, with 9 of 10 analysts recommending buy and an average 1-year price target of about $283.57.
• The company beat earnings and revenue expectations in its latest quarterly report, posting EPS of $5.95 versus $5.29 expected and revenue of $3.42 billion, up 11.3% year over year.
• Recent activity also showed insider selling, including shares sold by EVP Jay Rosenblum and CAO Dimitry Dirienzo, while institutional investors continue to hold a large majority of the stock at 92.65%.

Assurant, Inc. (NYSE:AIZ - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $283.5714.

AIZ has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $258.00 to $270.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Truist Financial raised their target price on shares of Assurant from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Morgan Stanley raised shares of Assurant from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $240.00 to $285.00 in a research note on Thursday, May 14th.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the sale, the executive vice president owned 12,764 shares of the company's stock, valued at $3,213,592.28. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the transaction, the chief accounting officer owned 2,741 shares in the company, valued at $700,818.88. This trade represents a 42.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 36,000 shares of company stock valued at $9,211,620. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Assurant

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. acquired a new stake in Assurant in the fourth quarter valued at approximately $28,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Assurant during the 2nd quarter valued at $27,000. Western Wealth Management LLC purchased a new stake in shares of Assurant during the 1st quarter valued at $33,000. BOKF NA acquired a new stake in shares of Assurant in the 3rd quarter worth $32,000. Finally, Park Square Financial Group LLC grew its stake in Assurant by 205.5% during the 4th quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider's stock worth $40,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Trading Down 0.0%

AIZ opened at $279.35 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average is $252.98 and its two-hundred day moving average is $237.23. The company has a market capitalization of $13.84 billion, a P/E ratio of 14.29 and a beta of 0.55. Assurant has a 52 week low of $183.39 and a 52 week high of $279.50.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.29 billion. During the same period in the prior year, the business earned $5.79 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts forecast that Assurant will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 8th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 8th. Assurant's payout ratio is presently 18.01%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.