Assurant, Inc. (NYSE:AIZ – Get Free Report) announced a quarterly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.80 per share by the financial services provider on Monday, March 31st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, February 3rd.
Assurant has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Assurant to earn $17.95 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 17.8%.
Assurant Trading Down 0.1 %
AIZ traded down $0.29 during trading on Friday, reaching $211.39. The company had a trading volume of 345,470 shares, compared to its average volume of 295,615. The firm’s 50-day simple moving average is $215.77 and its 200 day simple moving average is $196.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 15.08 and a beta of 0.62. Assurant has a 12-month low of $160.12 and a 12-month high of $230.55.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial lifted their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley started coverage on shares of Assurant in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, UBS Group increased their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $229.50.
Check Out Our Latest Stock Analysis on Assurant
Insider Buying and Selling
In other news, EVP Biju Nair sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.
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.
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