Assurant Inc. (AIZ) to Issue Quarterly Dividend of $0.53

Assurant Inc. (AIZ) to Issue Quarterly Dividend of $0.53

Assurant Inc. (NYSE:AIZ) declared a quarterly dividend on Monday, November 14th. Shareholders of record on Monday, November 28th will be given a dividend of 0.53 per share on Monday, December 12th. This represents a $2.12 dividend on an annualized basis and a yield of 2.55%. This is a boost from Assurant’s previous quarterly dividend of $0.50.

Assurant (NYSE:AIZ) opened at 82.99 on Monday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 8.90 and a beta of 0.86. The firm’s 50-day moving average is $86.07 and its 200-day moving average is $86.34. Assurant has a 52-week low of $64.36 and a 52-week high of $92.63.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, October 25th. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.74 billion. Assurant had a net margin of 7.20% and a return on equity of 6.93%. The business’s revenue for the quarter was down 27.6% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. Analysts forecast that Assurant will post $4.19 EPS for the current fiscal year.

Several equities research analysts have weighed in on the stock. Goldman Sachs Group Inc. lowered shares of Assurant to a “buy” rating and set a $95.00 target price on the stock. in a report on Sunday, July 17th. Zacks Investment Research upgraded shares of Assurant from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. DOWLING & PARTN reiterated a “neutral” rating on shares of Assurant in a report on Tuesday, August 23rd. Bank of America Corp. lowered shares of Assurant from a “buy” rating to a “neutral” rating and set a $87.00 target price on the stock. in a report on Thursday, October 20th. Finally, Credit Suisse Group AG assumed coverage on shares of Assurant in a report on Friday, October 7th. They issued a “neutral” rating and a $93.00 target price on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Assurant presently has an average rating of “Hold” and an average target price of $90.43.

In related news, SVP John Andrew Sondej sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $86.04, for a total transaction of $430,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher J. Pagano sold 6,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $89.76, for a total transaction of $538,560.00. Following the sale, the executive vice president now owns 70,149 shares in the company, valued at $6,296,574.24. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Several large investors have recently modified their holdings of AIZ. BlackRock Inc. increased its position in Assurant by 23.4% in the second quarter. BlackRock Inc. now owns 135,360 shares of the company’s stock worth $11,683,000 after buying an additional 25,685 shares during the period. Frontier Wealth Management LLC increased its position in Assurant by 14.9% in the second quarter. Frontier Wealth Management LLC now owns 4,121 shares of the company’s stock worth $356,000 after buying an additional 533 shares during the period. Tredje AP fonden increased its position in Assurant by 472.8% in the second quarter. Tredje AP fonden now owns 10,940 shares of the company’s stock worth $944,000 after buying an additional 9,030 shares during the period. Commonwealth Bank of Australia increased its position in Assurant by 5.6% in the second quarter. Commonwealth Bank of Australia now owns 15,004 shares of the company’s stock worth $1,295,000 after buying an additional 800 shares during the period. Finally, GAM Holding AG increased its position in Assurant by 3.5% in the second quarter. GAM Holding AG now owns 3,389 shares of the company’s stock worth $293,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.

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