Assurant (NYSE:AIZ) Reaches New 1-Year Low at $108.84

Assurant, Inc. (NYSE:AIZ – Get Rating)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $108.84 and last traded at $109.20, with a volume of 56519 shares traded. The stock had previously closed at $111.22.

Analysts Set New Price Targets

A number of research firms have recently commented on AIZ. Morgan Stanley lowered their price target on Assurant from $215.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, November 21st. Piper Sandler reissued a “neutral” rating and set a $133.00 price target on shares of Assurant in a report on Wednesday, February 8th. Finally, StockNews.com started coverage on Assurant in a report on Thursday. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Assurant presently has a consensus rating of “Hold” and a consensus target price of $154.75.

Assurant Trading Down 5.5 %

The business has a fifty day simple moving average of $127.07 and a 200-day simple moving average of $134.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 0.84 and a beta of 0.54.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Monday, February 27th will be issued a $0.70 dividend. The ex-dividend date is Friday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Assurant’s payout ratio is presently 56.57%.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 525 shares of the company’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $131.68, for a total value of $69,132.00. Following the completion of the transaction, the chief accounting officer now owns 5,881 shares of the company’s stock, valued at approximately $774,410.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently made changes to their positions in AIZ. American Century Companies Inc. grew its position in shares of Assurant by 11.5% in the 1st quarter. American Century Companies Inc. now owns 6,180 shares of the financial services provider’s stock valued at $1,124,000 after buying an additional 639 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Assurant in the 1st quarter valued at about $211,000. MetLife Investment Management LLC grew its position in shares of Assurant by 23.1% in the 1st quarter. MetLife Investment Management LLC now owns 15,499 shares of the financial services provider’s stock valued at $2,818,000 after buying an additional 2,912 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Assurant by 17.5% in the 1st quarter. Panagora Asset Management Inc. now owns 6,005 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 896 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Assurant by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,624 shares of the financial services provider’s stock valued at $1,386,000 after buying an additional 472 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

Assurant Company Profile

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Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. 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.