Keefe, Bruyette & Woods Issues Positive Forecast for Assurant (NYSE:AIZ) Stock Price

Assurant (NYSE:AIZ) had its price objective raised by Keefe, Bruyette & Woods from $194.00 to $212.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Bank of America upped their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial upped their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their target price on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average price target of $225.20.

Assurant Stock Performance

Shares of Assurant stock opened at $218.82 on Tuesday. Assurant has a one year low of $159.32 and a one year high of $219.05. The company has a market capitalization of $11.22 billion, a PE ratio of 15.61, a P/E/G ratio of 2.12 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The company has a 50-day simple moving average of $196.51 and a two-hundred day simple moving average of $182.41.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $4.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that Assurant will post 15.05 EPS for the current fiscal year.

Insider Activity at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This represents a 14.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Assurant

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after purchasing an additional 65,874 shares during the period. AQR Capital Management LLC grew its holdings in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Assurant by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after purchasing an additional 12,935 shares during the period. TD Asset Management Inc grew its holdings in shares of Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after purchasing an additional 96,021 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in shares of Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after purchasing an additional 460,937 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Company Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects 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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.