Assurant (NYSE:AIZ) Stock Price Expected to Rise, Truist Financial Analyst Says

Assurant (NYSE:AIZ) had its target price hoisted by Truist Financial from $240.00 to $250.00 in a research note issued to investors on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on AIZ. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Assurant currently has an average rating of “Hold” and an average price target of $231.17.

Assurant Stock Up 0.4 %

Shares of AIZ opened at $208.11 on Thursday. The stock has a fifty day moving average of $212.49 and a 200-day moving average of $202.47. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 14.84 and a beta of 0.62. Assurant has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. As a group, sell-side analysts anticipate that Assurant will post 15.82 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is 22.11%.

Institutional Investors Weigh In On Assurant

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Assurant during the 2nd quarter valued at $475,000. CWM LLC raised its stake in shares of Assurant by 85.6% in the third quarter. CWM LLC now owns 4,227 shares of the financial services provider’s stock worth $841,000 after buying an additional 1,950 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Assurant by 9.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,377 shares of the financial services provider’s stock valued at $473,000 after buying an additional 198 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Assurant by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 78 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in Assurant by 11.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,008 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 203 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other 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.