Assurant (NYSE:AIZ) Given New $325.00 Price Target at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price objective upped by Keefe, Bruyette & Woods from $310.00 to $325.00 in a research report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley lifted their target price on Assurant from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. UBS Group upped their price target on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Piper Sandler increased their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Truist Financial lifted their price objective on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.57.

Assurant Trading Down 2.4%

NYSE:AIZ opened at $289.33 on Friday. The company’s 50 day moving average price is $270.67 and its 200-day moving average price is $244.51. Assurant has a 52 week low of $201.96 and a 52 week high of $303.94. The company has a quick ratio of 0.39, a current ratio of 0.67 and a debt-to-equity ratio of 0.36. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 13.82 and a beta of 0.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.56 EPS. On average, equities research analysts forecast that Assurant will post 21.61 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. Assurant’s payout ratio is 16.81%.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 2,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the transaction, the executive vice president directly owned 12,764 shares of the company’s stock, valued at $3,213,592.28. This represents a 13.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Lonergan sold 7,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the transaction, the executive vice president directly owned 27,374 shares in the company, valued at $7,191,423.54. The trade was a 20.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 39,931 shares of company stock worth $10,400,590. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant during the 2nd quarter valued at about $27,000. Montag A & Associates Inc. bought a new position in shares of Assurant in the 4th quarter worth approximately $28,000. BOKF NA purchased a new position in shares of Assurant in the third quarter worth approximately $32,000. Western Wealth Management LLC purchased a new position in shares of Assurant in the first quarter worth approximately $33,000. Finally, Arlington Trust Co LLC grew its position in Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after buying an additional 57 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.