Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Assurant (NYSE:AIZ) Stock

Assurant (NYSE:AIZ) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $325.00 to $345.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods‘s target price would indicate a potential upside of 12.46% from the stock’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler raised their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research upgraded Assurant from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings upgraded shares of Assurant from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Finally, UBS Group increased their price objective on shares of Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $327.14.

Assurant Stock Down 0.0%

Shares of NYSE AIZ traded down $0.10 during mid-day trading on Thursday, hitting $306.77. 468,250 shares of the stock traded hands, compared to its average volume of 349,747. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 14.43 and a beta of 0.52. The stock has a fifty day moving average price of $280.40 and a 200-day moving average price of $256.27. Assurant has a 52 week low of $209.86 and a 52 week high of $316.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $1.40. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.73 EPS. Research analysts anticipate that Assurant will post 22.40 EPS for the current year.

Hedge Funds Weigh In On Assurant

A number of hedge funds have recently bought and sold shares of the business. Independence Bank of Kentucky purchased a new stake in shares of Assurant during the 3rd quarter valued at about $26,000. Latitude Advisors LLC bought a new stake in shares of Assurant in the third quarter worth approximately $26,000. First Bancorp Inc ME bought a new stake in shares of Assurant in the second quarter worth approximately $31,000. Western Wealth Management LLC purchased a new position in shares of Assurant during the first quarter valued at approximately $33,000. Finally, Arlington Trust Co LLC raised its holdings 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 purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc (NYSE:AIZ) is a global business services company that provides insurance products and related services. Its offerings are designed to help consumers protect mobile devices, household belongings, vehicles, homes and other significant purchases, while supporting businesses in managing risk and customer relationships.

Assurant operates through three primary business segments: Global Lifestyle, Global Housing and Global Preneed. Global Lifestyle provides mobile device protection, extended service contracts and related services for consumer electronics, appliances and vehicles.