Assurant, Inc. (AIZ) To Go Ex-Dividend on December 9th

Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.80 per share by the financial services provider on Monday, December 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72.

Assurant has increased its dividend by an average of 3.4% per year over the last three years and has increased its dividend every year for the last 20 years. Assurant has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $17.76 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 18.0%.

Assurant Price Performance

Shares of AIZ stock opened at $220.85 on Thursday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.18 and a beta of 0.57. Assurant has a 12 month low of $160.12 and a 12 month high of $222.67. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $198.15 and a 200 day moving average price of $183.47.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $4.29 EPS. Assurant’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that Assurant will post 15.05 EPS for the current year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AIZ. Piper Sandler lifted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and an average price target of $225.20.

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.