Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Assurant, Inc. 5.25% Subordinat (AIZN)

Company Dividend Discount ModelIndustry: Insurance - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$204.79 - $346.90$266.73
Multi-Stage$229.68 - $251.57$240.42
Blended Fair Value$253.58
Current Price$216.60
Upside17.07%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.59%7.24%3.022.952.913.052.992.932.592.302.431.82
YoY Growth--2.36%1.40%-4.70%1.94%2.11%13.15%12.44%-5.06%33.11%21.51%
Dividend Yield--1.44%1.57%2.42%1.68%2.11%2.81%2.69%2.52%2.54%2.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)848.80
(-) Cash Dividends Paid (M)165.30
(=) Cash Retained (M)683.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)169.76106.1063.66
Cash Retained (M)683.50683.50683.50
(-) Cash Required (M)-169.76-106.10-63.66
(=) Excess Retained (M)513.74577.40619.84
(/) Shares Outstanding (M)51.6751.6751.67
(=) Excess Retained per Share9.9411.1711.99
LTM Dividend per Share3.203.203.20
(+) Excess Retained per Share9.9411.1711.99
(=) Adjusted Dividend13.1414.3715.19
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate2.50%3.50%4.50%
Fair Value$204.79$266.73$346.90
Upside / Downside-5.45%23.15%60.16%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)848.80878.53909.31941.16974.131,008.251,038.50
Payout Ratio19.47%33.58%47.68%61.79%75.89%90.00%92.50%
Projected Dividends (M)165.30295.01433.60581.54739.31907.42960.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate2.50%3.50%4.50%
Year 1 PV (M)267.84270.45273.06
Year 2 PV (M)357.41364.42371.49
Year 3 PV (M)435.21448.07461.18
Year 4 PV (M)502.32522.21542.69
Year 5 PV (M)559.76587.60616.54
PV of Terminal Value (M)9,746.2010,230.9810,734.86
Equity Value (M)11,868.7412,423.7312,999.83
Shares Outstanding (M)51.6751.6751.67
Fair Value$229.68$240.42$251.57
Upside / Downside6.04%11.00%16.14%

High-Yield Dividend Screener

Page 1 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ARDCAres Dynamic Credit Allocation Fund, Inc.19.91%$2.6577.10%
JGHNuveen Global High Income Fund19.71%$2.4870.08%
BSLBlackstone / GSO Senior Floating Rate Term Fund19.66%$2.6595.83%
RGTRoyce Global Value Trust, Inc.19.58%$2.5637.89%
AIKIAIkido Pharma Inc.19.55%$0.7010.85%
PFNPIMCO Income Strategy Fund II19.43%$1.4672.85%
JLSNuveen Mortgage and Income Fund19.40%$3.5384.31%
ACVVirtus Diversified Income & Convertible Fund19.28%$5.0772.66%
BGBBlackstone/GSO Strategic Credit Fund19.19%$2.2686.72%
PHKPIMCO High Income Fund19.11%$0.9386.61%
DTWDTE Energy Company JR SUB DB 2017 E19.03%$4.0887.19%
EMDWestern Asset Emerging Markets Debt Fund Inc.18.84%$2.0378.17%
SR-PASpire Inc.18.76%$4.5498.60%
SRVNXG Cushing Midstream Energy Fund18.74%$7.5366.75%
CIKCredit Suisse Asset Management Income Fund, Inc.18.41%$0.5282.82%
DHYCredit Suisse High Yield Bond Fund, Inc.18.39%$0.3788.67%
MNRMach Natural Resources LP18.30%$2.0689.28%
PFLPIMCO Income Strategy Fund18.22%$1.5484.57%
EADWells Fargo Advantage Funds - Allspring Income Opportunities Fund18.08%$1.2352.27%
SPESpecial Opportunities Fund, Inc.18.03%$2.6644.19%
AIFApollo Tactical Income Fund Inc.17.93%$2.6660.44%
GABThe Gabelli Equity Trust Inc.17.77%$1.0881.70%
HPFJohn Hancock Preferred Income Fund II17.73%$2.8678.50%
MPVBarings Participation Investors17.65%$2.9395.78%
GBABGuggenheim Taxable Municipal Bond & Investment Grade Debt Trust17.43%$2.5974.37%
TEITempleton Emerging Markets Income Fund17.42%$1.1464.65%
ISDPGIM High Yield Bond Fund, Inc.17.40%$2.5296.64%
HIXWestern Asset High Income Fund II Inc.17.39%$0.7396.11%
NXGNXG NextGen Infrastructure Income Fund17.31%$8.7983.58%
HPIJohn Hancock Preferred Income Fund17.11%$2.7976.40%
RCSPIMCO Strategic Income Fund, Inc.17.08%$1.0075.51%
DUKBDuke Energy Corporation 5.625%16.95%$4.1965.28%
FGBFirst Trust Specialty Finance and Financial Opportunities Fund16.75%$0.7050.91%
RQICohen & Steers Quality Income Realty Fund, Inc.16.75%$1.9287.08%
FPFFirst Trust Intermediate Duration Preferred & Income Fund16.57%$3.0970.83%
EVVEaton Vance Limited Duration Income Fund16.43%$1.6364.70%
AIZNAssurant, Inc. 5.25% Subordinat16.41%$3.2219.47%
NMLNeuberger Berman MLP and Energy Income Fund Inc.16.37%$1.4040.22%
PGPPIMCO Global StocksPLUS & Income Fund16.31%$1.5060.66%
CHWCalamos Global Dynamic Income Fund16.07%$1.2066.54%
BGYBlackRock Enhanced International Dividend Trust15.99%$0.9499.21%
GABBXGabelli Dividend Growth AAA15.98%$2.8540.22%
BDJBlackRock Enhanced Equity Dividend Trust15.90%$1.4972.30%
DSLDoubleLine Income Solutions Fund15.85%$1.7854.50%
PDTJohn Hancock Premium Dividend Fund15.76%$2.0162.66%
TSQTownsquare Media, Inc.15.55%$0.7970.58%
EODWells Fargo Advantage Funds - Allspring Global Dividend Opportunity Fund15.39%$0.9052.51%
LGILazard Global Total Return and Income Fund, Inc.15.37%$2.6882.52%
BSTZBlackRock Science and Technology Trust II15.35%$3.5465.39%
FPIFarmland Partners Inc.15.34%$1.4893.00%