Assurant (NYSE:AIZ) Issues Earnings Results, Beats Estimates By $0.83 EPS

Assurant (NYSE:AIZ) issued its earnings results on Tuesday. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83, Zacks reports. Assurant had a net margin of 6.31% and a return on equity of 17.42%.

Assurant Trading Up 0.2 %

Shares of AIZ stock opened at $213.06 on Wednesday. The firm has a market capitalization of $10.93 billion, a P/E ratio of 15.20 and a beta of 0.62. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55. The stock’s fifty day simple moving average is $213.11 and its 200 day simple moving average is $202.16. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. Assurant’s dividend payout ratio is currently 22.82%.

Wall Street Analyst Weigh In

AIZ has been the topic of several research reports. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Truist Financial boosted their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley began coverage on shares of Assurant in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $229.50.

About Assurant

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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.