Assurant, Inc. (NYSE:AIZ) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have received an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $225.20.

A number of research firms have weighed in on AIZ. Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group increased their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Piper Sandler raised their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

Assurant Price Performance

Assurant stock opened at $218.82 on Wednesday. Assurant has a one year low of $159.32 and a one year high of $219.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day simple moving average of $197.03 and a 200 day simple moving average of $182.78. The company has a market capitalization of $11.22 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.57.

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

Insider Buying and Selling at Assurant

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Assurant

Institutional investors have recently modified their holdings of the business. True Wealth Design LLC purchased a new position in Assurant in the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in shares of Assurant in the second quarter worth $31,000. Richardson Financial Services Inc. grew its holdings in Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Huntington National Bank increased its holdings in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Assurant in the 3rd quarter worth approximately $42,000. 92.65% of the stock is owned by 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.