Assurant (NYSE:AIZ) Price Target Raised to $377.00

Assurant (NYSE:AIZ) had its price objective boosted by equities research analysts at UBS Group from $331.00 to $377.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. UBS Group‘s price target suggests a potential upside of 16.91% from the company’s previous close.

Several other brokerages have also recently issued reports on AIZ. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their target price on shares of Assurant from $329.00 to $356.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial boosted their price target on shares of Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. BMO Capital Markets boosted their price target on shares of Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Finally, Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, Assurant has a consensus rating of “Buy” and an average target price of $341.86.

Assurant Price Performance

Shares of NYSE:AIZ traded up $5.27 during mid-day trading on Tuesday, reaching $322.48. The stock had a trading volume of 429,180 shares, compared to its average volume of 395,156. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 0.37. The company has a market cap of $15.90 billion, a P/E ratio of 15.15 and a beta of 0.52. Assurant has a 1 year low of $209.86 and a 1 year high of $322.93. The business’s 50 day moving average price is $281.03 and its 200 day moving average price is $256.66.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share for the quarter, beating the consensus estimate of $4.75 by $1.40. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Assurant had a return on equity of 20.44% and a net margin of 7.80%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.73 EPS. Research analysts expect that Assurant will post 22.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Assurant

A number of large investors have recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in Assurant in the 3rd quarter worth about $26,000. Latitude Advisors LLC bought a new stake in Assurant in the third quarter worth about $26,000. First Bancorp Inc ME bought a new stake in Assurant in the second quarter worth about $31,000. Western Wealth Management LLC bought a new stake in Assurant in the first quarter worth about $33,000. Finally, Arlington Trust Co LLC boosted its position in shares of Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after buying an additional 57 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

About Assurant

Assurant, Inc. is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle. Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.