Assurant (NYSE:AIZ) Price Target Increased to $224.00 by Analysts at UBS Group

Assurant (NYSE:AIZ) had its target price increased by equities research analysts at UBS Group from $217.00 to $224.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price would indicate a potential upside of 13.65% from the stock’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Bank of America cut their target price on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.00.

Assurant Stock Up 1.5 %

Assurant stock traded up $2.83 during mid-day trading on Monday, reaching $197.10. 78,573 shares of the company were exchanged, compared to its average volume of 350,129. Assurant has a 12-month low of $141.83 and a 12-month high of $199.50. The business has a fifty day moving average of $183.77 and a 200 day moving average of $177.36. The firm has a market cap of $10.25 billion, a P/E ratio of 13.75, a PEG ratio of 1.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the business posted $3.89 EPS. Assurant’s revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Assurant will post 16.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIZ. Janney Montgomery Scott LLC acquired a new stake in shares of Assurant during the 4th quarter worth about $611,000. UBS Group AG lifted its position in shares of Assurant by 48.5% during the 4th quarter. UBS Group AG now owns 58,172 shares of the financial services provider’s stock worth $9,801,000 after buying an additional 18,992 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Assurant in the 4th quarter valued at $155,000. Assetmark Inc. purchased a new position in shares of Assurant in the 4th quarter valued at $44,000. Finally, Franklin Resources Inc. raised its stake in Assurant by 255.6% during the 4th quarter. Franklin Resources Inc. now owns 10,255 shares of the financial services provider’s stock worth $1,728,000 after acquiring an additional 7,371 shares in the last quarter. 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.