Assurant (NYSE:AIZ) Price Target Raised to $240.00 at Truist Financial

Assurant (NYSE:AIZ) had its target price increased by Truist Financial from $220.00 to $240.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

AIZ has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler boosted their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. UBS Group boosted their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Bank of America boosted their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and an average target price of $221.60.

Assurant Price Performance

AIZ stock traded up $3.18 during mid-day trading on Thursday, hitting $209.02. 108,854 shares of the stock were exchanged, compared to its average volume of 344,526. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day moving average price of $194.91 and a 200 day moving average price of $181.12. Assurant has a 12 month low of $158.68 and a 12 month high of $209.73. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.03 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $4.29 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Assurant will post 14.13 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.38%. Assurant’s dividend payout ratio (DPR) is 20.54%.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC lifted its position in Assurant by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after acquiring an additional 52 shares in the last quarter. US Bancorp DE lifted its position in Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 56 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in Assurant by 4.2% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 59 shares in the last quarter. Empirical Finance LLC lifted its position in Assurant by 3.3% in the 1st quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 64 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the period. 92.65% of the stock is owned by institutional investors.

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.