Assurant (NYSE:AIZ) Announces Earnings Results

Assurant (NYSE:AIZ) announced its earnings results on Tuesday. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83, Zacks reports. Assurant had a return on equity of 17.42% and a net margin of 6.31%.

Assurant Price Performance

Shares of AIZ traded up $0.53 during trading hours on Tuesday, reaching $213.06. 462,823 shares of the company’s stock traded hands, compared to its average volume of 366,609. Assurant has a 12 month low of $160.12 and a 12 month high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62. The firm’s 50 day simple moving average is $213.11 and its 200-day simple moving average is $202.16.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. Assurant’s dividend payout ratio is currently 22.82%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AIZ shares. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley started coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their target price 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Assurant has an average rating of “Moderate Buy” and an average target price of $229.50.

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.