Assurant (NYSE:AIZ) Sets New 1-Year High – Should You Buy?
by Renee Jackson · The Cerbat GemShares of Assurant, Inc. (NYSE:AIZ – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $244.83 and last traded at $244.2580, with a volume of 66750 shares changing hands. The stock had previously closed at $240.39.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Morgan Stanley lifted their price target on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. UBS Group increased their price objective on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Truist Financial set a $255.00 price objective on Assurant in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average price target of $252.67.
Get Our Latest Research Report on AIZ
Assurant Stock Up 0.6%
The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $234.35 and its two-hundred day moving average price is $219.26. The firm has a market cap of $12.12 billion, a P/E ratio of 14.70 and a beta of 0.56.
Assurant (NYSE:AIZ – Get Free Report) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $5.73 earnings per share for the quarter, beating the consensus estimate of $4.23 by $1.50. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $3.00 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.
Assurant Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Assurant’s payout ratio is 21.42%.
Hedge Funds Weigh In On Assurant
Institutional investors have recently modified their holdings of the company. Ascent Group LLC lifted its stake in shares of Assurant by 0.8% in the fourth quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock worth $1,286,000 after buying an additional 43 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in Assurant by 0.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,917 shares of the financial services provider’s stock worth $3,448,000 after acquiring an additional 48 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Assurant by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 49 shares during the period. Versant Capital Management Inc grew its position in shares of Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares during the last quarter. Finally, Cresset Asset Management LLC increased its stake in shares of Assurant by 5.4% in the second quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 55 shares during the period. Institutional investors own 92.65% of the company’s stock.
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.