Assurant (NYSE:AIZ) Downgraded by StockNews.com to "Hold"

Assurant (NYSE:AIZ - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Wednesday.

Other analysts have also recently issued reports about the company. Truist Financial upped their target price on Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $231.17.

Assurant Stock Performance

Shares of NYSE AIZ traded down $5.29 during midday trading on Wednesday, reaching $202.73. The company had a trading volume of 400,419 shares, compared to its average volume of 359,659. Assurant has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.40 billion, a P/E ratio of 14.46 and a beta of 0.62. The business's 50-day simple moving average is $211.71 and its 200 day simple moving average is $202.91.

Assurant (NYSE:AIZ - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. On average, analysts forecast that Assurant will post 15.82 earnings per share for the current fiscal year.

Institutional Trading of Assurant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its position in shares of Assurant by 2.3% in the third quarter. Public Sector Pension Investment Board now owns 9,021 shares of the financial services provider's stock valued at $1,794,000 after purchasing an additional 200 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Assurant by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,880 shares of the financial services provider's stock valued at $31,794,000 after acquiring an additional 6,756 shares during the period. Blue Trust Inc. boosted its holdings in shares of Assurant by 28.6% during the fourth quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock worth $168,000 after acquiring an additional 188 shares during the period. JPMorgan Chase & Co. grew its position in shares of Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock valued at $34,079,000 after purchasing an additional 24,887 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Assurant during the fourth quarter worth approximately $254,000. Institutional investors own 92.65% of the company's stock.

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.