Assurant, Inc. (NYSE:AIZ) Receives $234.17 Average PT from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $234.17.

A number of research analysts have recently commented on the company. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods lowered their target price on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Truist Financial increased their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Assurant

A number of institutional investors have recently bought and sold shares of AIZ. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of Assurant in the 1st quarter valued at $28,000. Private Trust Co. NA raised its stake in Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after buying an additional 98 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 0.2 %

AIZ stock opened at $195.34 on Wednesday. The firm has a market cap of $9.94 billion, a PE ratio of 13.50 and a beta of 0.59. Assurant has a 12 month low of $160.12 and a 12 month high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $198.62 and a 200 day simple moving average of $206.71.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the business posted $4.78 EPS. Assurant’s revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Assurant will post 16.88 earnings per share for the current fiscal year.

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.