Assurant (NYSE:AIZ) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Assurant (NYSE:AIZ) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other analysts have also recently issued reports on AIZ. Bank of America dropped their target price on Assurant from $223.00 to $222.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Keefe, Bruyette & Woods raised their price objective on Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research report on Wednesday, August 14th. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a buy rating in a report on Monday. Finally, Piper Sandler cut shares of Assurant from an overweight rating to a neutral rating and set a $200.00 price target on the stock. in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $209.00.

Assurant Stock Performance

Shares of Assurant stock opened at $199.00 on Tuesday. 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’s fifty day moving average price is $185.34 and its 200-day moving average price is $177.76. The firm has a market cap of $10.35 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.68 and a beta of 0.57. Assurant has a 12 month low of $141.83 and a 12 month high of $200.00.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $3.89 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Assurant will post 16.54 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Assurant’s dividend payout ratio (DPR) is currently 20.10%.

Insider Buying and Selling

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

Institutional Trading of Assurant

Several institutional investors and hedge funds have recently bought and sold shares of AIZ. Innealta Capital LLC purchased a new position in shares of Assurant during the 2nd quarter valued at about $31,000. Richardson Financial Services Inc. boosted its position in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Assurant during the 4th quarter worth approximately $44,000. Quarry LP purchased a new position in shares of Assurant during the 4th quarter valued at approximately $51,000. Finally, Family Firm Inc. acquired a new stake in Assurant in the 2nd quarter valued at $51,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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.