Assurant (NYSE:AIZ) Releases Earnings Results, Beats Expectations By $0.83 EPS

Assurant (NYSE:AIZ) issued its quarterly earnings data on Tuesday. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate 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 Stock Up 0.2 %

Shares of AIZ traded up $0.53 on Tuesday, hitting $213.06. 461,732 shares of the stock traded hands, compared to its average volume of 362,450. The company has a market capitalization of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day simple moving average of $213.11 and a 200 day simple moving average of $202.16. Assurant has a one year low of $160.12 and a one year high of $230.55.

Assurant Announces Dividend

The company also recently declared 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. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is currently 22.82%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AIZ shares. Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective for the company. Truist Financial raised their target price on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.