Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Monday, November 13th, Wall Street Journal reports. Stockholders of record on Monday, November 27th will be paid a dividend of 0.56 per share by the financial services provider on Monday, December 18th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, November 24th. This is an increase from Assurant’s previous quarterly dividend of $0.53.
Assurant has raised its dividend by an average of 28.4% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Assurant has a payout ratio of 57.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $6.93 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 30.6%.
Shares of Assurant (NYSE:AIZ) opened at $98.70 on Tuesday. Assurant has a 12 month low of $83.34 and a 12 month high of $106.99. The company has a market cap of $5,281.62, a P/E ratio of 38.34, a PEG ratio of 1.37 and a beta of 0.81. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.26.
Assurant (NYSE:AIZ) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.79) by $0.39. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. research analysts anticipate that Assurant will post 3.69 EPS for the current fiscal year.
Several equities analysts have weighed in on the stock. BidaskClub downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $115.00 price target on shares of Assurant in a report on Thursday, October 12th.
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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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