Assurant (NYSE:AIZ) Stock Price Expected to Rise, Truist Financial Analyst Says

Assurant (NYSE:AIZ - Get Free Report) had its price objective raised by analysts at Truist Financial from $220.00 to $240.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price suggests a potential upside of 16.60% from the company's current price.

AIZ has been the subject of several other research reports. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on Assurant from $186.00 to $194.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 14th. Bank of America boosted their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price target 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Assurant Trading Down 0.3 %

Shares of NYSE:AIZ traded down $0.53 during trading on Thursday, reaching $205.84. 310,520 shares of the company traded hands, compared to its average volume of 345,617. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. Assurant has a 52-week low of $158.29 and a 52-week high of $208.67. The business's fifty day moving average is $194.70 and its 200-day moving average is $180.94. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 2.04 and a beta of 0.57.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.48. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.29 EPS. As a group, analysts forecast that Assurant will post 14.13 EPS for the current year.

Insider Transactions at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The stock was 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 in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Institutional Trading of Assurant

A number of institutional investors and hedge funds have recently modified their holdings of AIZ. Innealta Capital LLC bought a new position in shares of Assurant during the 2nd quarter valued at $31,000. Richardson Financial Services Inc. lifted its holdings in 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 acquiring an additional 77 shares during the period. Huntington National Bank boosted its position in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Assurant during the 2nd quarter valued at about $51,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Assurant during the 3rd quarter valued at about $56,000. 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.