Assurant (NYSE:AIZ) PT Lowered to $165.00 at Morgan Stanley

Assurant (NYSE:AIZGet Rating) had its price objective lowered by Morgan Stanley from $215.00 to $165.00 in a research note released on Monday morning, Marketbeat reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also issued reports on AIZ. StockNews.com assumed coverage on Assurant in a research note on Wednesday, October 12th. They set a hold rating on the stock. Truist Financial decreased their target price on Assurant from $220.00 to $170.00 in a research note on Wednesday, October 26th. Keefe, Bruyette & Woods lowered Assurant from an outperform rating to a market perform rating and decreased their target price for the stock from $199.00 to $151.00 in a research note on Thursday, November 3rd. Finally, TheStreet lowered Assurant from a b- rating to a c+ rating in a research note on Wednesday, November 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Assurant presently has an average rating of Hold and a consensus target price of $170.20.

Assurant Price Performance

AIZ opened at $127.04 on Monday. The stock’s 50-day moving average price is $139.89 and its 200 day moving average price is $160.12. Assurant has a 12-month low of $119.01 and a 12-month high of $194.12. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 0.74 and a beta of 0.52.

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Assurant’s previous quarterly dividend of $0.68. Assurant’s dividend payout ratio (DPR) is currently 46.74%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Savant Capital LLC lifted its holdings in shares of Assurant by 2.0% in the 1st quarter. Savant Capital LLC now owns 2,777 shares of the financial services provider’s stock valued at $505,000 after buying an additional 54 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Assurant by 32.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 235 shares of the financial services provider’s stock valued at $40,000 after buying an additional 58 shares during the period. Empirical Finance LLC lifted its holdings in shares of Assurant by 5.4% in the 2nd quarter. Empirical Finance LLC now owns 1,183 shares of the financial services provider’s stock valued at $204,000 after buying an additional 61 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Assurant by 0.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 20,947 shares of the financial services provider’s stock valued at $3,985,000 after buying an additional 64 shares during the period. Finally, Quent Capital LLC lifted its holdings in shares of Assurant by 19.3% in the 1st quarter. Quent Capital LLC now owns 420 shares of the financial services provider’s stock valued at $76,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

About Assurant

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Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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