Assurant (NYSE:AIZ) PT Raised to $224.00 at UBS Group

Assurant (NYSE:AIZ) had its price target increased by research analysts at UBS Group from $217.00 to $224.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 13.65% from the stock’s previous close.

AIZ has been the subject of several other research reports. Keefe, Bruyette & Woods upped their price objective on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Bank of America reduced their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.00.

Assurant Stock Performance

Assurant stock traded up $2.83 during midday trading on Monday, reaching $197.10. The stock had a trading volume of 78,573 shares, compared to its average volume of 350,129. The firm has a market capitalization of $10.25 billion, a PE ratio of 13.75, a P/E/G ratio of 1.60 and a beta of 0.57. Assurant has a 12 month low of $141.83 and a 12 month high of $199.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $183.77 and its 200 day moving average price is $177.36.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $3.89 earnings per share. As a group, research analysts predict that Assurant will post 16.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently added to or reduced their stakes in AIZ. Leuthold Group LLC bought a new position in Assurant during the first quarter valued at approximately $3,730,000. QRG Capital Management Inc. increased its stake in Assurant by 210.7% during the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 5,903 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Assurant during the first quarter valued at approximately $1,213,000. SteelPeak Wealth LLC lifted its stake in shares of Assurant by 770.1% in the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock valued at $2,170,000 after purchasing an additional 11,551 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Assurant by 3.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after purchasing an additional 7,150 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.