Assurant (NYSE:AIZ) Price Target Increased to $217.00 by Analysts at Piper Sandler

Assurant (NYSE:AIZ) had its price objective raised by equities researchers at Piper Sandler from $200.00 to $217.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.93% from the company’s current price.

A number of other brokerages also recently issued reports on AIZ. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods increased their price target on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Bank of America reduced their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.40.

Assurant Stock Performance

NYSE:AIZ opened at $199.21 on Wednesday. The company has a market capitalization of $10.36 billion, a PE ratio of 13.90, a P/E/G ratio of 1.68 and a beta of 0.57. Assurant has a fifty-two week low of $141.83 and a fifty-two week high of $201.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50 day simple moving average of $187.60 and a two-hundred day simple moving average of $178.27.

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

Insider Activity

In related news, EVP Martin Jenns sold 1,500 shares of the business’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 directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Assurant 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 value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Assurant by 32.5% during the second 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. Northern Trust Corp boosted its holdings in Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after buying an additional 139,680 shares during the period. Dimensional Fund Advisors LP grew its stake in Assurant by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock valued at $116,159,000 after buying an additional 12,935 shares in the last quarter. TD Asset Management Inc raised its holdings in Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after acquiring an additional 96,021 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Assurant by 0.7% during the second quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider’s stock worth $63,765,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors 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.