Assurant (NYSE:AIZ - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Monday.
Several other brokerages also recently weighed in on AIZ. Morgan Stanley initiated coverage on Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price target on the stock. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price target on Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a report on Tuesday, November 12th. Finally, Bank of America boosted their price objective on Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $229.50.
View Our Latest Research Report on AIZ
Assurant Stock Up 2.2 %
NYSE AIZ traded up $4.72 on Monday, reaching $215.62. 316,868 shares of the stock traded hands, compared to its average volume of 313,079. 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 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The company has a fifty day moving average price of $215.33 and a 200-day moving average price of $198.68. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 15.38 and a beta of 0.62.
Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.48. The business had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business's revenue for the quarter 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, research analysts forecast that Assurant will post 15.38 EPS for the current fiscal year.
Insider Transactions at Assurant
In other Assurant news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 12.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock valued at $231,392,000 after purchasing an additional 65,874 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock valued at $92,460,000 after purchasing an additional 460,937 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Assurant in the third quarter worth about $48,430,000. Barclays PLC grew its position in Assurant by 48.4% in the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider's stock valued at $38,243,000 after buying an additional 62,696 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Assurant by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock valued at $34,079,000 after buying an additional 24,887 shares during the period. 92.65% of the stock is currently owned by institutional investors.
Assurant Company Profile
(
Get Free Report)
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.
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