Assurant (NYSE:AIZ) Posts Quarterly Earnings Results, Beats Expectations By $0.83 EPS

Assurant (NYSE:AIZ) announced its earnings results on Tuesday. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83, Zacks reports. Assurant had a net margin of 6.31% and a return on equity of 17.42%.

Assurant Stock Up 0.2 %

Shares of AIZ traded up $0.53 during midday trading on Tuesday, reaching $213.06. 461,732 shares of the stock were exchanged, compared to its average volume of 362,450. Assurant has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $213.11 and its two-hundred day moving average is $202.16. The company has a market capitalization of $10.93 billion, a P/E ratio of 15.20 and a beta of 0.62.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s payout ratio is 22.82%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIZ shares. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price target on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $229.50.

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.