The stock of Assurant Inc. (NYSE:AIZ) last traded at $113.00, down -3.21% from the previous session.
Data from the available sources indicates that Assurant Inc. (NYSE:AIZ) is covered by 8 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $170.00 and a low of $133.00, we find $166.00. Given the previous closing price of $116.75, this indicates a potential upside of 42.18 percent. AIZ stock price is now -12.07% away from the 50-day moving average and -23.31% away from the 200-day moving average. The market capitalization of the company currently stands at $6.14B.
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In total, 3 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $157.80 as their price target over the next twelve months.
With the price target reduced from $199 to $151, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Assurant Inc. (NYSE: AIZ). On June 24, 2022, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $205 to quote $185, while ‘UBS’ rates the stock as ‘Buy’.
In other news, DiRienzo Dimitry, SVP, CAO, Controller sold 525 shares of the company’s stock on Feb 10. The stock was sold for $69,133 at an average price of $131.68. Upon completion of the transaction, the SVP, CAO, Controller now directly owns 5,881 shares in the company, valued at $0.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 29, EVP, CAO Luthi Francesca sold 4,000 shares of the business’s stock. A total of $727,255 was realized by selling the stock at an average price of $181.81. This leaves the insider owning 11,632 shares of the company worth $1.31 million. Insiders disposed of 40,737 shares of company stock worth roughly $4.6 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AIZ stock. A new stake in Assurant Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $11,230,000. WORLDQUANT MILLENNIUM ADVISORS LLC invested $6,256,000 in shares of AIZ during the first quarter. In the first quarter, CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in Assurant Inc. valued at approximately $6,206,000. JANUS HENDERSON GROUP PLC acquired a new stake in AIZ for approximately $4,408,000. CI PRIVATE WEALTH, LLC purchased a new stake in AIZ valued at around $3,982,000 in the second quarter. In total, there are 687 active investors with 99.00% ownership of the company’s stock.
With an opening price of $114.66 on Monday morning, Assurant Inc. (NYSE: AIZ) set off the trading day. During the past 12 months, Assurant Inc. has had a low of $115.28 and a high of $194.12. The fifty day moving average price for AIZ is $128.51 and a two-hundred day moving average price translates $147.35 for the stock.
The latest earnings results from Assurant Inc. (NYSE: AIZ) was released for Dec, 2022. According to the Insurance – Specialty Company, earnings per share came in at $3.23, beating analysts’ expectations of $2.71 by 0.52. This compares to $1.87 EPS in the same period last year. The net profit margin was 2.70% and return on equity was 6.20% for AIZ. The company reported revenue of $2.65 billion for the quarter, compared to $2.57 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.03 percent. For the current quarter, analysts expect AIZ to generate $2.62B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/20/2023. Investors who held shares on 02/27/2023 were paid a $0.70 dividend. On an annualized basis, this represents a $2.80 dividend and a 2.48% percent yield. There was an ex-dividend date of 02/24/2023 for this dividend. In terms of dividend payout ratio, AIZ is presently at 53.90%.
Assurant Inc.(AIZ) Company Profile
Assurant, Inc., together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products. The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty products. The company was formerly known as Fortis, Inc. and changed its name to Assurant, Inc. in February 2004. Assurant, Inc. was founded in 1892 and is headquartered in New York, New York.
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