Assurant (NYSE:AIZ) Sets New 1-Year High at $178.41

Assurant, Inc. (NYSE:AIZGet Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $178.41 and last traded at $177.43, with a volume of 80924 shares. The stock had previously closed at $168.89.

Analysts Set New Price Targets

AIZ has been the topic of several research reports. Truist Financial increased their target price on Assurant from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. UBS Group raised their price objective on shares of Assurant from $166.00 to $191.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Piper Sandler upped their target price on shares of Assurant from $185.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $160.80.

View Our Latest Stock Report on Assurant

Assurant Stock Performance

The firm has a 50 day moving average of $167.91 and a two-hundred day moving average of $154.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $9.18 billion, a PE ratio of 14.57, a PEG ratio of 0.96 and a beta of 0.49.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Monday, February 5th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, February 2nd. Assurant’s payout ratio is 24.04%.

Assurant announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $162.16, for a total transaction of $324,320.00. Following the sale, the executive vice president now owns 7,567 shares in the company, valued at $1,227,064.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dimitry Dirienzo sold 850 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $160.72, for a total value of $136,612.00. Following the completion of the sale, the chief accounting officer now directly owns 4,654 shares of the company’s stock, valued at $747,990.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jay Rosenblum sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $162.16, for a total transaction of $324,320.00. Following the transaction, the executive vice president now owns 7,567 shares in the company, valued at $1,227,064.72. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Assurant

Large investors have recently bought and sold shares of the business. BKM Wealth Management LLC acquired a new stake in shares of Assurant during the fourth quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its position in Assurant by 104.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 91 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Assurant by 353.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. State of Wyoming acquired a new position in shares of Assurant in the fourth quarter valued at approximately $32,000. Finally, Covestor Ltd raised its stake in shares of Assurant by 229.9% during the second quarter. Covestor Ltd now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Assurant Company Profile

(Get Free Report)

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.

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