Assurant (NYSE:AIZ) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Assurant (NYSE:AIZ) from a buy rating to a hold rating in a research report sent to investors on Monday.

Other equities analysts have also issued research reports about the company. Piper Sandler lowered Assurant from an overweight rating to a neutral rating and set a $200.00 price objective on the stock. in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research note on Wednesday, August 14th. Bank of America reduced their target price on Assurant from $223.00 to $222.00 and set a buy rating on the stock in a report on Thursday, July 11th. Finally, UBS Group boosted their price target on Assurant from $210.00 to $217.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Assurant has a consensus rating of Moderate Buy and an average target price of $207.60.

Assurant Stock Performance

AIZ opened at $197.29 on Monday. 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 company has a market capitalization of $10.26 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.66 and a beta of 0.54. The business has a fifty day simple moving average of $176.36 and a 200 day simple moving average of $176.00. Assurant has a 1 year low of $136.88 and a 1 year high of $199.50.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company posted $3.89 earnings per share. Assurant’s revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Assurant will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.46%. Assurant’s payout ratio is presently 20.10%.

Insider Activity at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on 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 owns 3,152 shares in the company, valued at $593,962.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Martin Jenns sold 1,500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assurant

A number of large investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in shares of Assurant during the 2nd quarter worth about $31,000. Richardson Financial Services Inc. grew its stake in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Assetmark Inc. acquired a new stake in Assurant in the fourth quarter valued at approximately $44,000. Quarry LP bought a new stake in shares of Assurant during the fourth quarter valued at approximately $51,000. Finally, Family Firm Inc. acquired a new position in shares of Assurant during the second quarter worth approximately $51,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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.