Shares of Assurant, Inc. (NYSE:AIZ) hit a new 52-week high on Monday . The company traded as high as $132.88 and last traded at $132.75, with a volume of 15111 shares traded. The stock had previously closed at $132.09.
A number of brokerages recently weighed in on AIZ. Morgan Stanley boosted their price objective on Assurant from $130.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. SunTrust Banks boosted their price objective on Assurant from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group reduced their price objective on Assurant from $154.00 to $152.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.
The firm has a market cap of $8.01 billion, a P/E ratio of 22.87 and a beta of 0.47. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $126.52 and a two-hundred day moving average of $114.68.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.69. Assurant had a return on equity of 8.09% and a net margin of 2.76%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Assurant’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that Assurant, Inc. will post 8.69 EPS for the current year.
The business also recently declared a dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 25th will be given a $0.63 dividend. The ex-dividend date is Friday, November 22nd. Assurant’s dividend payout ratio (DPR) is presently 41.38%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIZ. Krane Funds Advisors LLC bought a new stake in shares of Assurant in the 2nd quarter valued at about $25,000. Synovus Financial Corp bought a new stake in shares of Assurant during the 3rd quarter valued at about $26,000. Point72 Asset Management L.P. bought a new stake in shares of Assurant during the 2nd quarter valued at about $43,000. Doyle Wealth Management bought a new stake in shares of Assurant during the 2nd quarter valued at about $70,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Assurant by 30.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 781 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.
About Assurant (NYSE:AIZ)
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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