Assurant (NYSE:AIZ) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Assurant (NYSE:AIZGet Rating) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other analysts also recently weighed in on AIZ. Bank of America increased their price target on shares of Assurant from $160.00 to $164.00 in a report on Wednesday, May 3rd. Keefe, Bruyette & Woods raised shares of Assurant from a market perform rating to an outperform rating and set a $52.00 price target for the company in a report on Tuesday, March 21st. Piper Sandler reduced their price target on shares of Assurant from $133.00 to $129.00 and set a neutral rating for the company in a report on Wednesday, April 5th. Finally, TheStreet raised shares of Assurant from a c+ rating to a b rating in a report on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $136.00.

Assurant Stock Down 0.7 %

AIZ stock opened at $125.15 on Tuesday. Assurant has a 12 month low of $104.49 and a 12 month high of $185.97. The firm has a market cap of $6.65 billion, a PE ratio of 27.94, a P/E/G ratio of 0.81 and a beta of 0.54. The firm has a 50 day simple moving average of $121.43 and a 200 day simple moving average of $125.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.41 and a quick ratio of 0.41.

Assurant (NYSE:AIZGet Rating) last released its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $1.17. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.60 billion. Assurant had a net margin of 2.33% and a return on equity of 13.47%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.75 earnings per share. Equities research analysts forecast that Assurant will post 13.91 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, May 26th. Assurant’s dividend payout ratio is presently 62.50%.

Hedge Funds Weigh In On Assurant

Institutional investors and hedge funds have recently modified their holdings of the business. Ellevest Inc. increased its position in shares of Assurant by 1,526.7% during the first quarter. Ellevest Inc. now owns 244 shares of the financial services provider’s stock valued at $29,000 after buying an additional 229 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the period. State of Wyoming bought a new position in shares of Assurant during the fourth quarter valued at approximately $32,000. Old North State Trust LLC bought a new position in shares of Assurant during the third quarter valued at approximately $33,000. Finally, CoreCap Advisors LLC bought a new position in shares of Assurant during the fourth quarter valued at approximately $36,000. 95.86% of the stock is currently owned by institutional investors.

Assurant Company Profile

(Get Rating)

Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. The Global Lifestyle segment offers mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances, vehicle protection and related services.

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