Assurant (NYSE:AIZ) Sets New 1-Year High – Should You Buy?

Shares of Assurant, Inc. (NYSE:AIZ) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $261.10 and last traded at $260.6650, with a volume of 161203 shares. The stock had previously closed at $258.50.

Analysts Set New Price Targets

Several research firms have issued reports on AIZ. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. BMO Capital Markets dropped their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. UBS Group lifted their price objective on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Piper Sandler lifted their price objective on Assurant from $268.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Buy” and a consensus target price of $275.83.

Assurant Trading Up 0.8%

The company has a market cap of $12.92 billion, a price-to-earnings ratio of 13.33 and a beta of 0.56. The firm has a 50-day moving average price of $239.19 and a 200 day moving average price of $232.74. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.79 EPS. As a group, sell-side analysts forecast that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 8th will be given a $0.88 dividend. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. Assurant’s dividend payout ratio (DPR) is presently 18.01%.

Insider Transactions at Assurant

In other news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. This trade represents a 39.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the transaction, the chief accounting officer owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. The trade was a 42.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,650 shares of company stock worth $7,930,981 in the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ascent Group LLC boosted its position in Assurant by 0.8% during the 4th quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock valued at $1,286,000 after purchasing an additional 43 shares during the period. ProShare Advisors LLC boosted its position in Assurant by 0.3% during the 4th quarter. ProShare Advisors LLC now owns 17,064 shares of the financial services provider’s stock valued at $4,110,000 after purchasing an additional 47 shares during the period. Illinois Municipal Retirement Fund boosted its position in Assurant by 0.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,917 shares of the financial services provider’s stock valued at $3,448,000 after purchasing an additional 48 shares during the period. Root Financial Partners LLC boosted its position in Assurant by 27.5% during the 1st quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 53 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Assurant by 0.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,739 shares of the financial services provider’s stock valued at $1,250,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

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.