Assurant, Inc., (NYSE:AIZ) 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. The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty 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.

Stock Overview

• Market Cap: $6.794 billion
• PE Ratio: 20.67
• EPS: 6.22
• Dividend Yield: 2.24%

Among its tailwinds, analysts say Assurant is benefitting from consumers buying insurance on all the goods they’ve been snapping up in lieu of spending on services during the pandemic. When it comes to policies for everything from used cars to new 5G smartphones, Assurant is forecast to see increasing demand.

“Assurant continues to rebound from the pandemic, with premiums and fees (PFO) up 7% in the quarter versus 2% in 2020,” says William Blair analyst Jeff Schmitt, who rates AIZ at Outperform. “Global Automotive is benefiting from strong used car growth. Also, AIZ began a nationwide rollout of in-store device repair services for T-Mobile and extended its relationship with AT&T to manage its device trade-in program.”

Therefore, Assurant is one of the top insurances (financial) stock to own for long term investors.