UBS Group Raises Assurant (NYSE:AIZ) Price Target to $224.00

Assurant (NYSE:AIZ) had its price objective raised by UBS Group from $217.00 to $224.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research firms have also issued reports on AIZ. Bank of America dropped their price objective on Assurant from $223.00 to $222.00 and set a buy rating on the stock in a research note on Thursday, July 11th. Piper Sandler cut Assurant from an overweight rating to a neutral rating and set a $200.00 price target on the stock. in a research note on Thursday, August 22nd. StockNews.com raised Assurant from a hold rating to a buy rating in a report on Thursday, September 12th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $209.00.

Assurant Trading Down 0.4 %

Shares of NYSE:AIZ opened at $196.54 on Monday. The company’s 50-day moving average price is $185.34 and its two-hundred day moving average price is $177.76. Assurant has a one year low of $141.83 and a one year high of $199.50. 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 stock has a market capitalization of $10.22 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57.

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

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.47%. Assurant’s payout ratio is 20.10%.

Insider Activity at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $178.13, for a total transaction 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 approximately $717,329.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the sale, the chief accounting officer now directly 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 insiders.

Hedge Funds Weigh In On Assurant

Several large investors have recently bought and sold shares of AIZ. Janney Montgomery Scott LLC bought a new stake in shares of Assurant during the fourth quarter worth about $611,000. UBS Group AG grew its holdings in Assurant by 48.5% during the 4th quarter. UBS Group AG now owns 58,172 shares of the financial services provider’s stock worth $9,801,000 after acquiring an additional 18,992 shares during the last quarter. Quest Partners LLC acquired a new position in Assurant in the 4th quarter valued at approximately $155,000. Assetmark Inc. bought a new position in shares of Assurant during the fourth quarter valued at $44,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Assurant by 255.6% during the fourth quarter. Franklin Resources Inc. now owns 10,255 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 7,371 shares during the period. 92.65% of the stock is currently owned by institutional investors.

About Assurant

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.