Assurant (NYSE:AIZ) Cut to Sell at ValuEngine

ValuEngine cut shares of Assurant (NYSE:AIZ) from a hold rating to a sell rating in a research report released on Monday, April 2nd.

Separately, UBS started coverage on shares of Assurant in a research note on Friday, March 2nd. They issued a buy rating and a $127.00 target price for the company.

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Shares of AIZ stock traded up $0.39 on Monday, hitting $92.89. The stock had a trading volume of 643,611 shares, compared to its average volume of 533,373. The company has a market cap of $4,802.02, a P/E ratio of 23.24, a P/E/G ratio of 0.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.55 and a quick ratio of 0.55. Assurant has a 12-month low of $84.34 and a 12-month high of $106.99.



Assurant (NYSE:AIZ) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.26. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. Assurant had a net margin of 8.10% and a return on equity of 5.24%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 earnings per share. research analysts expect that Assurant will post 7.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, February 26th were paid a $0.56 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.24 annualized dividend and a dividend yield of 2.41%. Assurant’s payout ratio is 56.28%.

Several hedge funds have recently added to or reduced their stakes in AIZ. Raymond James Financial Services Advisors Inc. boosted its position in shares of Assurant by 79.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,889 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 2,158 shares during the period. New York State Common Retirement Fund lifted its position in Assurant by 1.8% during the third quarter. New York State Common Retirement Fund now owns 116,100 shares of the financial services provider’s stock valued at $11,090,000 after purchasing an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Assurant by 10.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,085 shares of the financial services provider’s stock valued at $1,059,000 after purchasing an additional 1,074 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in Assurant during the third quarter valued at approximately $774,000. Finally, Trexquant Investment LP bought a new stake in Assurant during the third quarter valued at approximately $258,000. Institutional investors own 93.04% of the company’s stock.

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About Assurant

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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