Assurant, Inc. (NYSE:AIZ) Receives $225.20 Consensus Target Price from Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $225.20.

A number of equities analysts recently issued reports on AIZ shares. UBS Group increased their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America upped their price target on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Truist Financial upped their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Assurant Stock Up 1.6 %

AIZ stock opened at $218.82 on Wednesday. The firm has a fifty day moving average price of $196.51 and a two-hundred day moving average price of $182.41. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.12 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. Assurant has a 1-year low of $159.32 and a 1-year high of $219.05.

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

Insider Buying and Selling at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This trade represents a 14.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathstone Holdings LLC lifted its holdings in shares of Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after acquiring an additional 52 shares during the period. US Bancorp DE increased its stake in shares of Assurant by 7.2% in the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after buying an additional 56 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after buying an additional 59 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Assurant by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 78 shares during the period. 92.65% of the stock is owned by 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.