Assurant, Inc. (NYSE:AIZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Assurant, Inc. (NYSE:AIZ) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $234.17.

AIZ has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a research report on Thursday, April 10th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th.

Assurant Price Performance

Shares of NYSE AIZ opened at $202.52 on Wednesday. The stock’s 50-day simple moving average is $198.60 and its two-hundred day simple moving average is $206.93. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55. The firm has a market capitalization of $10.30 billion, a P/E ratio of 14.00 and a beta of 0.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $4.78 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts anticipate that Assurant will post 16.88 EPS for the current fiscal year.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Assurant

Institutional investors have recently made changes to their positions in the company. Barclays PLC increased its holdings in Assurant by 48.4% in the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after buying an additional 62,696 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Assurant during the 3rd quarter valued at about $244,000. Principal Financial Group Inc. grew its stake in shares of Assurant by 6.4% in the third quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider’s stock worth $14,370,000 after acquiring an additional 4,317 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock worth $34,079,000 after acquiring an additional 24,887 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Assurant by 34.3% during the fourth quarter. GAMMA Investing LLC now owns 1,473 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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.