Assurant (NYSE:AIZ) Rating Increased to Outperform at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ - Get Free Report) was upgraded by research analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a $230.00 target price on the financial services provider's stock, up from their prior target price of $212.00. Keefe, Bruyette & Woods' price target indicates a potential upside of 15.15% from the stock's current price.

Several other equities research analysts have also commented on the company. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on Assurant in a report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price target on the stock. Finally, StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.17.

Assurant Trading Down 0.6 %

NYSE:AIZ traded down $1.25 on Thursday, reaching $199.73. 1,094,809 shares of the stock traded hands, compared to its average volume of 408,300. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 13.80 and a beta of 0.62. Assurant has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $210.44 and its 200-day moving average is $203.47.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities research analysts anticipate that Assurant will post 16.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cascade Investment Advisors Inc. boosted its position in shares of Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock valued at $1,593,000 after buying an additional 50 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Assurant by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider's stock valued at $2,006,000 after acquiring an additional 52 shares in the last quarter. US Bancorp DE boosted its holdings in Assurant by 7.2% during the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider's stock worth $165,000 after acquiring an additional 56 shares during the last quarter. LRI Investments LLC grew its stake in shares of Assurant by 14.0% in the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider's stock worth $118,000 after acquiring an additional 68 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

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.