Assurant (NYSE:AIZ) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Assurant (NYSE:AIZ) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $258.00 to $270.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 11.12% from the stock’s current price.

A number of other research firms also recently commented on AIZ. Morgan Stanley decreased their target price on Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial boosted their price objective on shares of Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Piper Sandler increased their price objective on shares of Assurant from $264.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday. Finally, UBS Group raised their target price on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and a consensus target price of $264.67.

Assurant Price Performance

AIZ traded down $0.46 on Wednesday, hitting $242.97. 17,529 shares of the company were exchanged, compared to its average volume of 398,065. Assurant has a fifty-two week low of $183.39 and a fifty-two week high of $247.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $12.08 billion, a P/E ratio of 12.44 and a beta of 0.56. The business’s fifty day moving average is $224.45 and its 200 day moving average is $227.52.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the firm posted $5.79 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Assurant will post 20.87 EPS for the current year.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 750 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the transaction, the chief accounting officer owned 4,741 shares of the company’s stock, valued at $1,000,256.18. This represents a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,650 shares of company stock worth $558,331. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its stake in Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 53 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Assurant during the 2nd quarter valued at $27,000. Montag A & Associates Inc. acquired a new stake in shares of Assurant during the 4th quarter worth $28,000. Smartleaf Asset Management LLC raised its position in shares of Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares during the period. Finally, BOKF NA purchased a new position in shares of Assurant in the 3rd quarter worth $32,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.