Assurant Reaches New 12-Month High at $69.59 (AIZ)
Shares of Assurant (NYSE:AIZ) reached a new 52-week high during trading on Wednesday , Stock Ratings Network reports. The company traded as high as $69.59 and last traded at $69.23, with a volume of 173,107 shares traded. The stock had previously closed at $68.41.
A number of research firms have recently commented on AIZ. Analysts at Zacks reiterated a “neutral” rating on shares of Assurant in a research note on Tuesday, May 20th. They now have a $70.00 price target on the stock. Separately, analysts at Bank of America downgraded shares of Assurant from a “neutral” rating to an “underperform” rating in a research note on Friday, May 16th. They now have a $73.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at SunTrust reiterated a “neutral” rating on shares of Assurant in a research note on Friday, April 25th. They now have a $68.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.43.
The stock’s 50-day moving average is $66.94 and its 200-day moving average is $65.65. The company has a market cap of $4.960 billion and a price-to-earnings ratio of 10.21.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.53 by $0.15. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts expect that Assurant will post $6.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Assurant’s previous quarterly dividend of $0.25.
In other Assurant news, EVP Christopher J. Pagano sold 1,250 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $68.10, for a total transaction of $85,125.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Assurant, Inc (NYSE:AIZ) is a provider of specialized insurance products and related services in North America and select worldwide markets.
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