Assurant (NYSE:AIZ) Issues Earnings Results

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

Assurant Stock Down 2.5 %

AIZ opened at $207.46 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $10.64 billion, a PE ratio of 14.80 and a beta of 0.62. Assurant has a 52 week low of $160.12 and a 52 week high of $230.55. The firm has a 50-day simple moving average of $212.83 and a two-hundred day simple moving average of $202.44.

Assurant Announces Dividend

The business also recently declared 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. This represents a $3.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s payout ratio is currently 22.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AIZ. Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price on the stock. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial lifted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $229.50.

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.