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Assurant

NYSE:AIZ
Snowflake Description

Established dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AIZ
NYSE
$7B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

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 last earnings update was 39 days ago. More info.


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AIZ Share Price and Events
7 Day Returns
1.7%
NYSE:AIZ
0.5%
US Insurance
0.5%
US Market
1 Year Returns
11.1%
NYSE:AIZ
12%
US Insurance
0.8%
US Market
AIZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Assurant (AIZ) 1.7% 12% 6.4% 11.1% 24.1% 55.8%
US Insurance 0.5% 3.3% 9% 12% 40.1% 45.3%
US Market 0.5% -0.1% 1% 0.8% 37.5% 37.5%
1 Year Return vs Industry and Market
  • AIZ outperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
AIZ
Industry
5yr Volatility vs Market

AIZ Value

 Is Assurant undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Assurant to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Assurant.

NYSE:AIZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $92.45 * 10.4%
$9.63
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $92.45
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AIZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.69 (1 + (1- 21%) (56.59%))
0.999
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.999 * 5.96%)
8.68%

Discounted Cash Flow Calculation for NYSE:AIZ using Excess Returns Model Model

The calculations below outline how an intrinsic value for Assurant is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:AIZ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.4% – 8.68%) * $92.45)
$1.60
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.60 / (8.68% - 2.73%)
$26.89
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $92.45 + $26.89
$119.35
NYSE:AIZ Discount to Share Price
Calculation Result
Value per share (USD) From above. $119.35
Current discount Discount to share price of $106.12
= -1 x ($106.12 - $119.35) / $119.35
11.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Assurant is available for.
Intrinsic value
11%
Share price is $106.12 vs Future cash flow value of $119.35
Current Discount Checks
For Assurant to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Assurant's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Assurant's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Assurant's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Assurant's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AIZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.74
NYSE:AIZ Share Price ** NYSE (2019-06-14) in USD $106.12
United States of America Insurance Industry PE Ratio Median Figure of 90 Publicly-Listed Insurance Companies 17.59x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Assurant.

NYSE:AIZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AIZ Share Price ÷ EPS (both in USD)

= 106.12 ÷ 4.74

22.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Assurant is overvalued based on earnings compared to the US Insurance industry average.
  • Assurant is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Assurant's expected growth come at a high price?
Raw Data
NYSE:AIZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
19.6%per year
United States of America Insurance Industry PEG Ratio Median Figure of 66 Publicly-Listed Insurance Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NYSE:AIZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.4x ÷ 19.6%

1.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Assurant is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Assurant's assets?
Raw Data
NYSE:AIZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $88.16
NYSE:AIZ Share Price * NYSE (2019-06-14) in USD $106.12
United States of America Insurance Industry PB Ratio Median Figure of 119 Publicly-Listed Insurance Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NYSE:AIZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AIZ Share Price ÷ Book Value per Share (both in USD)

= 106.12 ÷ 88.16

1.2x

* Primary Listing of Assurant.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Assurant is good value based on assets compared to the US Insurance industry average.
X
Value checks
We assess Assurant's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Assurant has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AIZ Future Performance

 How is Assurant expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Assurant expected to grow at an attractive rate?
  • Assurant's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Assurant's earnings growth is expected to exceed the United States of America market average.
  • Assurant's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AIZ Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AIZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 19.6%
NYSE:AIZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 3.3%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AIZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AIZ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 9,887 591 1
2020-12-31 9,859 547 2
2019-12-31 9,704 524 2
NYSE:AIZ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 8,855 979 292
2018-12-31 8,058 657 237
2018-09-30 7,417 619 529
2018-06-30 6,733 703 424
2018-03-31 6,502 431 482
2017-12-31 6,415 530 520
2017-09-30 6,491 543 238
2017-06-30 6,739 432 440
2017-03-31 6,936 479 489
2016-12-31 7,502 109 565
2016-09-30 8,298 -343 600
2016-06-30 8,998 -238 448

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Assurant's earnings are expected to grow by 19.6% yearly, however this is not considered high growth (20% yearly).
  • Assurant's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AIZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Assurant Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AIZ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 10.75 11.15 10.35 2.00
2020-12-31 9.21 9.26 9.16 2.00
2019-12-31 8.44 8.52 8.37 2.00
NYSE:AIZ Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.74
2018-12-31 4.00
2018-09-30 9.27
2018-06-30 7.75
2018-03-31 8.88
2017-12-31 9.45
2017-09-30 4.27
2017-06-30 7.68
2017-03-31 8.28
2016-12-31 9.23
2016-09-30 9.44
2016-06-30 6.85

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Assurant is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Assurant's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Assurant has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AIZ Past Performance

  How has Assurant performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Assurant's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Assurant's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Assurant's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Assurant's 1-year earnings growth is negative, it can't be compared to the US Insurance industry average.
Earnings and Revenue History
Assurant's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Assurant Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AIZ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 8,854.60 291.80
2018-12-31 8,057.60 236.80
2018-09-30 7,417.20 529.40
2018-06-30 6,733.30 423.80
2018-03-31 6,502.10 481.80
2017-12-31 6,415.00 519.60
2017-09-30 6,490.80 238.00
2017-06-30 6,738.50 439.70
2017-03-31 6,935.80 488.80
2016-12-31 7,502.20 565.40
2016-09-30 8,297.63 599.84
2016-06-30 8,997.69 448.42
2016-03-31 9,844.78 311.91
2015-12-31 10,308.70 141.60
2015-09-30 10,400.35 125.57
2015-06-30 10,568.68 272.89
2015-03-31 10,531.89 383.71
2014-12-31 10,381.65 470.91
2014-09-30 10,159.58 529.97
2014-06-30 9,715.74 518.46
2014-03-31 9,345.41 508.37
2013-12-31 9,047.66 488.91
2013-09-30 8,808.02 405.08
2013-06-30 8,694.45 402.58
2013-03-31 8,585.97 438.23
2012-12-31 8,508.27 483.71
2012-09-30 8,458.83 617.87
2012-06-30 8,375.46 565.62

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Assurant has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Assurant used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.
  • Assurant has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Assurant's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Assurant has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AIZ Health

 How is Assurant's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Assurant's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Assurant's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Assurant's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Assurant's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Assurant Company Filings, last reported 2 months ago.

NYSE:AIZ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,471.70 3,691.50 1,728.50
2018-12-31 5,133.90 3,322.70 1,689.80
2018-09-30 5,239.70 2,005.40 1,911.40
2018-06-30 5,332.90 2,004.80 1,597.30
2018-03-31 4,501.00 2,004.40 2,543.20
2017-12-31 4,281.50 1,518.90 1,350.70
2017-09-30 4,138.20 1,225.60 1,259.40
2017-06-30 4,224.60 1,136.60 1,047.10
2017-03-31 4,158.80 1,067.30 1,103.80
2016-12-31 4,098.10 1,067.00 1,259.70
2016-09-30 4,504.91 1,165.56 1,513.22
2016-06-30 4,608.07 1,165.26 1,730.96
2016-03-31 4,564.65 1,414.70 2,510.51
2015-12-31 4,523.97 1,164.66 1,797.26
2015-09-30 4,683.60 1,222.34 2,291.90
2015-06-30 4,827.96 1,266.52 1,740.05
2015-03-31 5,128.21 1,264.39 1,312.69
2014-12-31 5,181.31 1,267.07 1,663.90
2014-09-30 5,342.56 1,266.98 1,876.56
2014-06-30 5,349.71 1,266.15 1,755.61
2014-03-31 5,096.29 1,266.86 1,672.63
2013-12-31 4,833.48 1,733.32 2,187.64
2013-09-30 4,782.92 1,734.15 2,259.38
2013-06-30 4,795.89 1,742.89 2,042.13
2013-03-31 5,206.61 1,765.13 1,844.41
2012-12-31 5,185.37 1,067.11 1,210.33
2012-09-30 5,229.61 1,066.39 1,324.00
2012-06-30 5,033.57 1,066.95 1,611.92
  • Assurant's level of debt (66%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.8% vs 66% today).
  • Debt is well covered by operating cash flow (27.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess Assurant's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Assurant has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AIZ Dividends

 What is Assurant's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.26%
Current annual income from Assurant dividends. Estimated to be 2.49% next year.
If you bought $2,000 of Assurant shares you are expected to receive $45 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Assurant's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Assurant's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AIZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 80 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AIZ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.80 2.00
2020-12-31 2.64 2.00
2019-12-31 2.48 2.00
NYSE:AIZ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 2.400 2.398
2019-01-18 2.400 2.482
2018-11-09 2.400 2.573
2018-07-12 2.240 2.143
2018-05-11 2.240 2.282
2018-01-19 2.240 2.484
2017-11-10 2.240 2.269
2017-08-07 2.120 2.180
2017-05-12 2.120 2.063
2017-01-13 2.120 2.182
2016-11-14 2.120 2.343
2016-07-07 2.000 2.311
2016-05-13 2.000 2.333
2016-01-15 2.000 2.574
2015-09-10 2.000 2.472
2015-07-08 1.200 1.613
2015-05-08 1.200 1.799
2015-01-09 1.080 1.726
2014-11-14 1.080 1.595
2014-07-10 1.080 1.655
2014-05-09 1.080 1.606
2014-01-10 1.000 1.525
2013-11-15 1.000 1.539
2013-07-11 1.000 1.796
2013-05-10 1.000 1.991
2013-01-11 0.840 1.967
2012-07-12 0.840 2.335
2012-05-11 0.840 2.439
2012-01-13 0.720 1.773
2011-11-11 0.720 1.838
2011-07-07 0.720 2.039
2011-05-13 0.720 1.994
2011-01-14 0.640 1.640
2010-11-12 0.640 1.724
2010-08-11 0.640 1.635
2010-05-14 0.640 1.780
2010-01-25 0.600 1.811
2009-11-13 0.600 1.968
2009-07-23 0.600 2.030

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Assurant's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess Assurant's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Assurant afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Assurant has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AIZ Management

 What is the CEO of Assurant's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Alan Colberg
COMPENSATION $13,616,946
AGE 56
TENURE AS CEO 4.4 years
CEO Bio

Mr. Alan B. Colberg has been the President of Assurant, Inc. since September 16, 2014 and has been its Chief Executive Officer since January 1, 2015. Mr. Colberg serves as Chief Executive Officer and President at Assurant Health, Inc. Mr. Colberg has over 25 years of senior leadership experience. Mr. Colberg served as Executive Vice President of Marketing and Business Development at Assurant, Inc. from March 28, 2011 to September 2014. He joined Assurant following a 22-year career with Bain & Company, Inc., where he founded and for the past 11 years, headed its Atlanta Office. Mr. Colberg served as Managing Director of the Atlanta office and Co-head of North America Financial Services practice at Bain & Co. He focused on the practice areas of strategy, new business development and process innovation. While at Bain, he has helped clients create real change and superior results in a variety of industries, ranging from consumer finance, apparel, professional services, pharmaceuticals, health care, consumer products and steel to beverages, banking, insurance and computers. He was the driving force behind the opening and rapid expansion of Bain's Atlanta office and Southeastern USA services. He served as President and Chief Operating Officer of Commercial Financial Services and as a marketing and financial analyst at Procter and Gamble. He served as an Independent Director of CarMax, Inc. from October 21, 2015 to May 31, 2018. Mr. Colberg, having served as the Chairman of The Board of the Atlanta International School and on the boards of the Woodruff Arts Center and the Metro Atlanta Chamber of Commerce. He has been a Director of Assurant, Inc. since January 1, 2015. Mr. Colberg has been a Member of Advisory Board at Ingenious Med, Inc. since May 2005. He serves on the Board of Trustees for the Atlanta International School, the Atlanta College of Art and the Metro Atlanta Chamber of Commerce. In 2010, he was recognized by Consulting Magazine as one of the world's top-25 consultants and for his excellence in the Financial Services sector. Mr. Colberg received a Bachelor of Science degree with highest honors in Accounting and Finance from the Wharton School at the University of Pennsylvania. He holds an MBA from Harvard Business School.

CEO Compensation
  • Alan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Alan's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Assurant management team in years:

2.9
Average Tenure
55
Average Age
  • The tenure for the Assurant management team is about average.
Management Team

Alan Colberg

TITLE
President
COMPENSATION
$14M
AGE
56
TENURE
4.4 yrs

Richard Dziadzio

TITLE
Executive VP & CFO
COMPENSATION
$6M
AGE
54
TENURE
2.9 yrs

Gene Mergelmeyer

TITLE
Executive VP & COO
COMPENSATION
$5M
AGE
59
TENURE
2.9 yrs

Eric Greenman

TITLE
Chief Investment Officer & Executive VP
TENURE
4.8 yrs

Dan Pacicco

TITLE
Senior VP
TENURE
2 yrs

Joe Surber

TITLE
Senior VP & Global Technology Officer
TENURE
0.4 yrs

Suzanne Shepherd

TITLE
Senior Vice President of Investor Relations
TENURE
5.4 yrs

Carey Roberts

TITLE
Executive VP
AGE
47
TENURE
1.7 yrs

John Pawloski

TITLE
Senior VP & Chief Compliance Officer
TENURE
0.9 yrs

Francesca Luthi

TITLE
Executive VP and Chief Communication & Marketing Officer
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Assurant board of directors in years:

7.8
Average Tenure
65.5
Average Age
  • The tenure for the Assurant board of directors is about average.
Board of Directors

Elaine Rosen

TITLE
Non-Executive Chair of the Board
COMPENSATION
$379K
AGE
65
TENURE
8.6 yrs

Alan Colberg

TITLE
President
COMPENSATION
$14M
AGE
56
TENURE
4.4 yrs

Lawrence Jackson

TITLE
Director
COMPENSATION
$245K
AGE
64
TENURE
9.9 yrs

Bob Stein

TITLE
Director
COMPENSATION
$250K
AGE
69
TENURE
7.7 yrs

Jean-Paul Montupet

TITLE
Director
COMPENSATION
$225K
AGE
70
TENURE
6.8 yrs

Debra Perry

TITLE
Director
COMPENSATION
$226K
AGE
67
TENURE
1.8 yrs

Paul Reilly

TITLE
Director
COMPENSATION
$233K
AGE
61
TENURE
8 yrs

Bud Koch

TITLE
Director
COMPENSATION
$225K
AGE
71
TENURE
13.8 yrs

Juan Cento

TITLE
Director
COMPENSATION
$225K
AGE
66
TENURE
13.1 yrs

Harriet Edelman

TITLE
Director
COMPENSATION
$225K
AGE
62
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
25. Mar 19 Sell TPG Capital, L.P. Company 21. Mar 19 21. Mar 19 -7,869,230 $98.15 $-772,364,925
20. Nov 18 Sell Christopher Pagano Individual 16. Nov 18 16. Nov 18 -1,107 $99.95 $-110,644
20. Sep 18 Sell TPG Capital, L.P. Company 18. Sep 18 18. Sep 18 -466,540 $105.14 $-49,052,016
14. Sep 18 Sell TPG Capital, L.P. Company 12. Sep 18 12. Sep 18 -1,200,000 $101.10 $-121,320,000
15. Aug 18 Sell Gene Mergelmeyer Individual 14. Aug 18 14. Aug 18 -14,144 $109.41 $-1,547,523
X
Management checks
We assess Assurant's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Assurant has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AIZ News

Simply Wall St News

Should You Be Worried About Assurant, Inc.'s (NYSE:AIZ) 5.8% Return On Equity?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Assurant: 5.8% = US$292m ÷ US$5.5b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … In my book the highest quality companies have high return on equity, despite low debt. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

Here's What You Should Know About Assurant, Inc.'s (NYSE:AIZ) 2.5% Dividend Yield

(NYSE:AIZ) be an attractive dividend share to own for the long haul? … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.

Simply Wall St -

Can You Imagine How Assurant's (NYSE:AIZ) Shareholders Feel About The 44% Share Price Increase?

(NYSE:AIZ) share price is up 44% in the last five years, that's less than the market return. … Assurant's earnings per share are down 8.9% per year, despite strong share price performance over five years. … Because earnings per share don't seem to match up with the share price, we'll take a look at other metrics instead.

Simply Wall St -

How Much Are Assurant, Inc. (NYSE:AIZ) Insiders Taking Off The Table?

In the last twelve months, the biggest single sale by an insider was when Executive VP & COO Gene Mergelmeyer sold US$1.5m worth of shares at a price of US$109 per share. … So what is clear is that an insider saw fit to sell at around the current price of US$94.91. … We usually pause to reflect on the potential that a stock has a high valuation, if insiders have been selling at around the current price.

Simply Wall St -

Why Assurant, Inc.'s (NYSE:AIZ) CEO Pay Matters To You

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Alan Colberg's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$6.1b, and pays its CEO total annual compensation worth US$9.3m.

Simply Wall St -

Why Fundamental Investors Might Love Assurant, Inc. (NYSE:AIZ)

Help shape the future of investing tools and receive a $20 prize! … (NYSE:AIZ) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective.

Simply Wall St -

Read This Before You Buy Assurant, Inc. (NYSE:AIZ) Because Of Its P/E Ratio

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Assurant Inc's (NYSE:AIZ) Earnings Dropped -3.6%, Did Its Industry Show Weakness Too?

In this commentary, I will examine Assurant Inc's (NYSE:AIZ) latest earnings update (30 June 2018) and compare these figures against its performance over the past couple of years, as well as how the rest of the insurance industry performed. … AIZ's trailing twelve-month earnings (from 30 June 2018) of US$424m has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 0.2%, indicating the rate at which AIZ is growing has slowed down

Simply Wall St -

What Assurant Inc's (NYSE:AIZ) ROE Tells Us

Our data shows Assurant has a return on equity of 8.0% for the last year. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.080. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Assurant Inc (NYSE:AIZ): What You Have To Know Before Buying For The Upcoming Dividend

Assurant Inc (NYSE:AIZ) will be distributing its dividend of US$0.56 per share on the 18 September 2018, and will start trading ex-dividend in 2 days time on the 24 August 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Assurant's latest financial data to analyse its dividend characteristics. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

AIZ Company Info

Description

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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products. The Global Lifestyle segment offers mobile device protection products and related services, and extended service contracts for consumer electronics and appliances, as well as assistance services; vehicle protection and related services; and credit and other insurance services. Its Global Preneed segment provides pre-funded funeral insurance and annuity products. The company was formerly known as Fortis, Inc. and changed its name to Assurant, Inc. in February 2004. Assurant, Inc. was founded in 1892 and is headquartered in New York, New York.

Details
Name: Assurant, Inc.
AIZ
Exchange: NYSE
Founded: 1892
$6,523,693,253
61,474,682
Website: http://www.assurant.com
Address: Assurant, Inc.
28 Liberty Street,
41st Floor,
New York,
New York, 10005,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AIZ Common Shares New York Stock Exchange US USD 05. Feb 2004
DB ZAS Common Shares Deutsche Boerse AG DE EUR 05. Feb 2004
LSE 0HIN Common Shares London Stock Exchange GB USD 05. Feb 2004
NYSE AIZP 6.50% CONV PFD D New York Stock Exchange US USD 08. Mar 2018
Number of employees
Current staff
Staff numbers
14,250
Assurant employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 23:56
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.