Assurant, Inc. (NYSE:AIZ) Plans Quarterly Dividend of $0.80

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.80 per share by the financial services provider on Monday, December 30th. This represents a $3.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, December 9th. This is a positive change from Assurant’s previous quarterly dividend of $0.72.

Assurant has raised its dividend by an average of 3.4% per year over the last three years and has raised its dividend every year for the last 20 years. Assurant has a dividend payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $17.76 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 18.0%.

Assurant Trading Up 0.8 %

Assurant stock opened at $220.85 on Thursday. The stock has a 50-day simple moving average of $198.15 and a 200 day simple moving average of $183.47. The stock has a market capitalization of $11.33 billion, a P/E ratio of 15.75, a PEG ratio of 2.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. Assurant has a 52 week low of $160.12 and a 52 week high of $222.67.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $4.29 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts expect that Assurant will post 15.05 earnings per share for the current year.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Bank of America boosted their price objective on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial upped their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.20.

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.