Assurant (NYSE:AIZ) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Assurant (NYSE:AIZ) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other research firms have also weighed in on AIZ. Keefe, Bruyette & Woods raised their price objective on Assurant from $186.00 to $194.00 and gave the stock a market perform rating in a research note on Wednesday, August 14th. Bank of America decreased their price target on Assurant from $223.00 to $222.00 and set a buy rating for the company in a research report on Thursday, July 11th. Piper Sandler downgraded Assurant from an overweight rating to a neutral rating and set a $200.00 price objective on the stock. in a report on Thursday, August 22nd. Finally, UBS Group raised their target price on shares of Assurant from $210.00 to $217.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $207.60.

Assurant Price Performance

Shares of Assurant stock opened at $191.39 on Thursday. Assurant has a 52 week low of $137.50 and a 52 week high of $199.50. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market cap of $9.95 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.57. The company’s 50-day moving average price is $180.19 and its two-hundred day moving average price is $176.83.

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

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

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

Institutional Trading of Assurant

A number of institutional investors have recently bought and sold shares of AIZ. AQR Capital Management LLC raised its stake in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares in the last quarter. Lyrical Asset Management LP increased its holdings in Assurant by 2.0% in the fourth quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock worth $131,971,000 after buying an additional 15,074 shares during the last quarter. Northern Trust Corp raised its position in Assurant by 23.4% during the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after acquiring an additional 139,680 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Assurant by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock valued at $116,159,000 after acquiring an additional 12,935 shares during the last quarter. Finally, Norges Bank acquired a new stake in Assurant in the fourth quarter valued at approximately $108,253,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.