Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Friday, January 19th, RTT News reports. Shareholders of record on Monday, February 26th will be given a dividend of 0.56 per share by the financial services provider on Monday, March 19th. This represents a $2.24 annualized dividend and a yield of 2.38%.
Assurant has increased its dividend payment by an average of 26.6% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Assurant has a payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Assurant to earn $7.45 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 30.1%.
Assurant (AIZ) traded down $0.54 during trading on Friday, reaching $94.27. 247,200 shares of the company’s stock traded hands, compared to its average volume of 399,417. The stock has a market cap of $4,986.38, a PE ratio of 22.55, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.53 and a current ratio of 0.53. Assurant has a 12 month low of $86.00 and a 12 month high of $106.99.
Separately, SunTrust Banks reaffirmed a “buy” rating and issued a $115.00 price target on shares of Assurant in a research report on Thursday, October 12th.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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