Assurant, Inc. (AIZ) to Distribute Quarterly Dividend of $0.68 on March 21st

Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Tuesday, January 11th, RTT News reports. Investors of record on Monday, February 28th will be given a dividend of 0.68 per share by the financial services provider on Monday, March 21st. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%.

Assurant has raised its dividend payment by 16.7% over the last three years and has increased its dividend annually for the last 18 consecutive years. Assurant has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $11.95 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 22.8%.

AIZ stock opened at $157.08 on Thursday. The firm has a 50 day moving average of $156.56 and a 200 day moving average of $159.76. The stock has a market capitalization of $8.95 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 0.77 and a beta of 0.64. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.38. Assurant has a 52 week low of $121.55 and a 52 week high of $172.22.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 2nd. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.49). Assurant had a return on equity of 9.03% and a net margin of 13.65%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $1.41 earnings per share. On average, equities research analysts expect that Assurant will post 9.15 earnings per share for the current year.

Several analysts have commented on AIZ shares. UBS Group decreased their price objective on shares of Assurant from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler started coverage on shares of Assurant in a research note on Thursday, October 14th. They set an “overweight” rating and a $200.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Assurant from $184.00 to $191.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Assurant presently has an average rating of “Buy” and an average target price of $183.80.

In related news, CEO Alan B. Colberg sold 13,400 shares of the business’s stock in a transaction on Friday, November 5th. The shares were sold at an average price of $165.43, for a total value of $2,216,762.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Assurant stock. Morgan Stanley raised its stake in Assurant, Inc. (NYSE:AIZ) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,092 shares of the financial services provider’s stock after buying an additional 17,078 shares during the quarter. Morgan Stanley owned about 0.38% of Assurant worth $35,154,000 at the end of the most recent quarter. Institutional investors own 94.19% of the company’s stock.

About Assurant

Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.

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Dividend History for Assurant (NYSE:AIZ)

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