Analysts Set Assurant, Inc. (NYSE:AIZ) PT at $225.20

Assurant, Inc. (NYSE:AIZ) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $225.20.

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler raised their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd.

Assurant Price Performance

Shares of AIZ opened at $218.82 on Wednesday. Assurant has a fifty-two week low of $159.32 and a fifty-two week high of $219.05. The firm’s 50 day moving average price is $196.51 and its 200 day moving average price is $182.41. The company has a market cap of $11.22 billion, a P/E ratio of 15.46, a PEG ratio of 2.12 and a beta of 0.57. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $4.29 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that Assurant will post 15.05 earnings per share for the current fiscal year.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. This trade represents a 14.86 % 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in shares of Assurant during the third quarter worth $25,000. Innealta Capital LLC acquired a new stake in Assurant in the second quarter valued at $31,000. Richardson Financial Services Inc. raised 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 in the last quarter. Huntington National Bank raised its holdings in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Assurant in the third quarter valued at $42,000. 92.65% of the stock is owned by institutional investors and hedge funds.

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.