Assurant, Inc. (NYSE:AIZ – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $220.00 to $170.00. The stock traded as low as $137.49 and last traded at $138.96, with a volume of 7984 shares trading hands. The stock had previously closed at $152.74.
Separately, StockNews.com started coverage on Assurant in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.
Institutional Investors Weigh In On Assurant
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIZ. Invesco Ltd. boosted its position in Assurant by 53.7% during the 1st quarter. Invesco Ltd. now owns 1,622,996 shares of the financial services provider’s stock valued at $295,111,000 after acquiring an additional 566,763 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Assurant in the 1st quarter valued at about $70,137,000. Artemis Investment Management LLP purchased a new position in shares of Assurant in the 2nd quarter valued at about $40,116,000. Tobam purchased a new position in shares of Assurant in the 1st quarter valued at about $31,621,000. Finally, Northern Trust Corp boosted its holdings in Assurant by 23.7% in the 1st quarter. Northern Trust Corp now owns 791,775 shares of the financial services provider’s stock worth $143,968,000 after buying an additional 151,743 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.
Assurant Trading Down 10.6 %
The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.71 and a beta of 0.57. The company has a fifty day moving average of $155.33 and a 200-day moving average of $169.00.
Assurant (NYSE:AIZ – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($0.26). Assurant had a net margin of 11.80% and a return on equity of 11.61%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company posted $2.99 earnings per share. As a group, equities research analysts anticipate that Assurant, Inc. will post 11.87 earnings per share for the current fiscal year.
Assurant Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Monday, August 29th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, August 26th. Assurant’s dividend payout ratio is currently 13.26%.
Assurant 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.