Assurant (NYSE:AIZ) Price Target Raised to $217.00

Assurant (NYSE:AIZ) had its price objective raised by Piper Sandler from $200.00 to $217.00 in a report published on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

AIZ has been the subject of several other research reports. Bank of America lowered their price target on Assurant from $223.00 to $222.00 and set a buy rating for the company in a report on Thursday, July 11th. UBS Group lifted their target price on Assurant from $217.00 to $224.00 and gave the stock a buy rating in a report on Monday, September 23rd. StockNews.com downgraded Assurant from a buy rating to a hold rating in a report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the stock a market perform rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $212.40.

Assurant Price Performance

Shares of NYSE AIZ opened at $197.58 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $10.27 billion, a PE ratio of 13.79, a P/E/G ratio of 1.68 and a beta of 0.57. The business has a 50-day simple moving average of $189.23 and a two-hundred day simple moving average of $178.68. Assurant has a fifty-two week low of $144.54 and a fifty-two week high of $201.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.50. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $3.89 earnings per share. As a group, equities analysts expect that Assurant will post 16.54 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.46%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insider Activity at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Institutional Trading of Assurant

Institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in shares of Assurant in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. increased its position in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Quarry LP purchased a new stake in shares of Assurant during the fourth quarter worth approximately $51,000. Family Firm Inc. purchased a new stake in shares of Assurant during the second quarter worth approximately $51,000. Finally, Blue Trust Inc. increased its position in shares of Assurant by 40.1% during the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

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.