Assurant (NYSE:AIZ) Posts Earnings Results, Beats Estimates By $0.83 EPS

Assurant (NYSE:AIZ) issued its quarterly earnings data on Tuesday. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83, Zacks reports. Assurant had a return on equity of 17.42% and a net margin of 6.31%.

Assurant Price Performance

AIZ opened at $207.46 on Thursday. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 14.80 and a beta of 0.62. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant has a 12-month low of $160.12 and a 12-month high of $230.55. The business’s fifty day simple moving average is $212.83 and its 200-day simple moving average is $202.44.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is 22.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial boosted their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley began coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Assurant has an average rating of “Hold” and an average target price of $229.50.

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.