Assurant (NYSE:AIZ) Price Target Raised to $212.00 at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $194.00 to $212.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 0.16% from the company’s current price.

Several other analysts also recently issued reports on the stock. 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. UBS Group increased their target price on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Truist Financial boosted their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Assurant Price Performance

AIZ stock traded up $0.94 during midday trading on Tuesday, hitting $211.67. 92,541 shares of the stock were exchanged, compared to its average volume of 344,239. The stock’s 50-day moving average price is $195.46 and its 200-day moving average price is $181.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.19 and a beta of 0.57. Assurant has a fifty-two week low of $159.32 and a fifty-two week high of $214.82.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company posted $4.29 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Research analysts predict that Assurant will post 15.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

Large investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Assurant during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. increased its position 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 worth $33,000 after acquiring an additional 77 shares in the last quarter. Huntington National Bank raised its stake in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Family Firm Inc. acquired a new position in shares of Assurant during the 2nd quarter valued at $51,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Assurant during the 3rd quarter valued at $56,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

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.