Assurant’s (AIZ) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Assurant (NYSE:AIZ) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $205.00 price target on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods boosted their target price on Assurant from $182.00 to $186.00 and gave the stock a market perform rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $200.25.

Assurant Trading Up 0.4 %

NYSE AIZ opened at $166.97 on Friday. Assurant has a 12 month low of $122.42 and a 12 month high of $189.48. The company has a 50-day moving average of $171.94 and a 200-day moving average of $173.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $8.68 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.66 and a beta of 0.54.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. As a group, equities analysts predict that Assurant will post 16.2 earnings per share for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Monday, June 10th. Assurant’s dividend payout ratio is presently 20.10%.

Insiders Place Their Bets

In other news, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the completion of the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the completion of the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Lonergan sold 2,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the transaction, the insider now owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock worth $2,248,489 in the last 90 days. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assurant

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Assurant by 8.0% during the 4th quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock valued at $30,586,000 after acquiring an additional 13,395 shares in the last quarter. Naples Money Management LLC acquired a new stake in Assurant in the fourth quarter worth $1,988,000. Truist Financial Corp increased its position in Assurant by 305.5% in the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after buying an additional 6,077 shares during the period. Teacher Retirement System of Texas increased its position in Assurant by 1,035.8% in the fourth quarter. Teacher Retirement System of Texas now owns 51,011 shares of the financial services provider’s stock worth $8,595,000 after buying an additional 46,520 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in Assurant by 3.0% in the first quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after buying an additional 7,150 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

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.