Assurant (NYSE:AIZ – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
A number of other research firms also recently commented on AIZ. Piper Sandler raised their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Morgan Stanley initiated coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective on the stock. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $229.50.
Read Our Latest Stock Analysis on AIZ
Assurant Trading Up 0.1 %
Assurant (NYSE:AIZ – Get Free Report) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. 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 posted $4.29 earnings per share. Assurant’s revenue was up 7.0% compared to the same quarter last year. Equities analysts anticipate that Assurant will post 15.38 EPS for the current year.
Insider Buying and Selling at Assurant
In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in AIZ. Lecap Asset Management Ltd. increased its position in shares of Assurant by 39.9% in the 4th quarter. Lecap Asset Management Ltd. now owns 4,792 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 1,367 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant in the fourth quarter valued at about $28,000. Financial Architects LLC bought a new stake in shares of Assurant in the fourth quarter worth about $2,420,000. Tectonic Advisors LLC raised its position in shares of Assurant by 3.6% during the fourth quarter. Tectonic Advisors LLC now owns 2,843 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 98 shares during the period. Finally, Longboard Asset Management LP bought a new position in shares of Assurant during the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 92.65% of the company’s stock.
About Assurant
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.
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