Analysts Set Assurant, Inc. (NYSE:AIZ) Price Target at $141.00

Posted by on Aug 6th, 2023

Shares of Assurant, Inc. (NYSE:AIZ – Get Free Report) have been assigned a consensus rating of “Buy” from the four analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $141.00.

Several research analysts have issued reports on AIZ shares. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America increased their price objective on Assurant from $160.00 to $164.00 in a research note on Wednesday, May 3rd. TheStreet upgraded Assurant from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 price objective for the company in a research note on Tuesday, June 13th. Finally, Truist Financial increased their price objective on Assurant from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday.

Insider Activity

In related news, CAO Dimitry Dirienzo sold 800 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $124.00, for a total value of $99,200.00. Following the transaction, the chief accounting officer now owns 5,516 shares in the company, valued at $683,984. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Richard S. Dziadzio sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total value of $524,280.00. Following the transaction, the chief financial officer now owns 55,893 shares in the company, valued at $7,325,895.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 800 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $124.00, for a total value of $99,200.00. Following the completion of the transaction, the chief accounting officer now owns 5,516 shares in the company, valued at approximately $683,984. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Assurant

Several hedge funds have recently added to or reduced their stakes in AIZ. Ellevest Inc. boosted its holdings in Assurant by 1,526.7% during the first quarter. Ellevest Inc. now owns 244 shares of the financial services provider’s stock worth $29,000 after buying an additional 229 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after buying an additional 138 shares during the last quarter. State of Wyoming bought a new position in Assurant during the fourth quarter worth about $32,000. Exchange Traded Concepts LLC bought a new position in Assurant during the second quarter worth about $34,000. Finally, CoreCap Advisors LLC bought a new position in Assurant during the fourth quarter worth about $36,000. Institutional investors own 92.86% of the company’s stock.

Assurant Stock Performance

Shares of NYSE AIZ opened at $141.78 on Thursday. The business has a fifty day simple moving average of $128.22 and a 200 day simple moving average of $125.64. The company has a current ratio of 0.61, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.90 and a beta of 0.55. Assurant has a one year low of $104.49 and a one year high of $172.99.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. Assurant’s dividend payout ratio (DPR) is presently 43.55%.

Assurant Company Profile

(Get Free Report

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.

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