Assurant (NYSE:AIZ) Price Target Raised to $270.00

Assurant (NYSE:AIZ) had its target price increased by Keefe, Bruyette & Woods from $258.00 to $270.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

AIZ has been the topic of a number of other research reports. Morgan Stanley cut their price target on shares of Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Truist Financial increased their price target 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. UBS Group increased their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings cut shares of Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.17.

Assurant Trading Up 0.6%

Shares of AIZ opened at $254.26 on Wednesday. The firm’s 50-day moving average price is $225.47 and its 200-day moving average price is $228.21. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 13.01 and a beta of 0.56. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant has a 1-year low of $183.39 and a 1-year high of $257.17.

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

Insider Transactions at Assurant

In other news, EVP Subhashish Sengupta sold 1,880 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the sale, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. This trade represents a 39.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of Assurant 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 sale, the chief accounting officer owned 4,741 shares of the company’s stock, valued at $1,000,256.18. The trade was a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,650 shares of company stock worth $1,061,871. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Assurant

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Assurant during the 2nd quarter valued at about $27,000. Montag A & Associates Inc. bought a new stake in Assurant during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its holdings in Assurant by 65.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares in the last quarter. Finally, BOKF NA bought a new stake in Assurant during the 3rd quarter valued at about $32,000. Institutional investors own 92.65% of the company’s stock.

Key Assurant News

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight and lifted its price target to $285, signaling confidence in further upside. Morgan Stanley upgrades Assurant (AIZ)
• Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst backdrop. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
• Positive Sentiment: BMO Capital also gave Assurant a Buy rating, reinforcing expectations for continued strength in the business. Assurant (AIZ) Receives a Buy from BMO Capital
• Neutral Sentiment: Analyst notes and earnings-call commentary are focusing attention on Assurant’s valuation and growth outlook after a strong quarter. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook
• Neutral Sentiment: Analysts are highlighting questions from Assurant’s Q1 earnings call, which may help investors gauge the durability of recent results. 5 Revealing Analyst Questions From Assurant’s Q1 Earnings Call
• Negative Sentiment: EVP Jay Rosenblum sold 2,000 shares at an average price of $251.77, a routine insider sale that may slightly temper sentiment. Insider sale filing

Assurant Company Profile

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.