Assurant (NYSE:AIZ) Releases Quarterly Earnings Results, Beats Estimates By $0.83 EPS

Assurant (NYSE:AIZ) announced its quarterly earnings data on Tuesday. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 Trading Up 0.2 %

Shares of AIZ traded up $0.53 during mid-day trading on Tuesday, hitting $213.06. 462,823 shares of the company’s stock traded hands, compared to its average volume of 366,609. 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 firm has a market capitalization of $10.93 billion, a P/E ratio of 15.20 and a beta of 0.62. The business’s 50-day moving average price is $213.11 and its 200-day moving average price is $202.16. Assurant has a 1 year low of $160.12 and a 1 year high of $230.55.

Assurant Dividend Announcement

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

Wall Street Analyst Weigh In

AIZ has been the topic of several research reports. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley started coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.