Morgan Stanley Lowers Assurant (NYSE:AIZ) Price Target to $165.00

Assurant (NYSE:AIZGet Rating) had its price target reduced by equities researchers at Morgan Stanley from $215.00 to $165.00 in a report issued on Monday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 29.74% from the stock’s previous close.

Other research analysts have also issued reports about the stock. TheStreet lowered shares of Assurant from a “b-” rating to a “c+” rating in a report on Wednesday, November 2nd. StockNews.com assumed coverage on shares of Assurant in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lowered shares of Assurant from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $199.00 to $151.00 in a report on Thursday, November 3rd. Finally, Truist Financial cut their price target on shares of Assurant from $220.00 to $170.00 in a report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Assurant has a consensus rating of “Hold” and a consensus target price of $170.20.

Assurant Trading Up 0.5 %

Shares of AIZ stock opened at $127.18 on Monday. The firm has a market cap of $6.72 billion, a P/E ratio of 21.85, a PEG ratio of 0.72 and a beta of 0.52. Assurant has a 1-year low of $119.01 and a 1-year high of $194.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s 50-day simple moving average is $141.05 and its 200-day simple moving average is $160.58.

Institutional Trading of Assurant

A number of hedge funds have recently made changes to their positions in AIZ. Steward Partners Investment Advisory LLC raised its stake in shares of Assurant by 20.8% during the first quarter. Steward Partners Investment Advisory LLC now owns 447 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 77 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Assurant by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 7,603 shares of the financial services provider’s stock valued at $1,382,000 after purchasing an additional 77 shares during the period. Versor Investments LP purchased a new stake in shares of Assurant during the first quarter valued at approximately $274,000. Shell Asset Management Co. raised its stake in shares of Assurant by 1.8% during the first quarter. Shell Asset Management Co. now owns 19,834 shares of the financial services provider’s stock valued at $3,606,000 after purchasing an additional 349 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Assurant by 11.5% during the first quarter. Envestnet Asset Management Inc. now owns 16,369 shares of the financial services provider’s stock valued at $2,976,000 after purchasing an additional 1,691 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

About Assurant

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Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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