Assurant (AIZ) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Assurant (NYSE:AIZ) from a sell rating to a hold rating in a research note published on Friday morning.

A number of other brokerages have also recently issued reports on AIZ. SunTrust Banks reduced their price objective on Assurant and set a buy rating on the stock in a research note on Thursday, April 12th. UBS assumed coverage on Assurant in a research note on Friday, March 2nd. They set a buy rating and a $127.00 price objective on the stock.

Shares of Assurant traded up $1.63, reaching $95.92, on Friday, Marketbeat Ratings reports. 878,826 shares of the company traded hands, compared to its average volume of 653,622. Assurant has a 52 week low of $84.34 and a 52 week high of $106.99. The stock has a market capitalization of $4.97 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 0.65 and a beta of 0.55. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.45.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.25. Assurant had a return on equity of 5.17% and a net margin of 7.41%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. research analysts predict that Assurant will post 7.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, May 29th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, May 25th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.34%. Assurant’s dividend payout ratio (DPR) is currently 56.28%.

Large investors have recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in shares of Assurant in the fourth quarter worth about $128,000. Rampart Investment Management Company LLC grew its stake in shares of Assurant by 88.5% in the first quarter. Rampart Investment Management Company LLC now owns 1,431 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 672 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Assurant in the first quarter worth about $201,000. Ifrah Financial Services Inc. bought a new stake in shares of Assurant in the fourth quarter worth about $204,000. Finally, Koch Industries Inc. bought a new stake in shares of Assurant in the fourth quarter worth about $206,000. 93.55% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Company Profile

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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