Assurant (NYSE:AIZ) Stock Price Target Raised at Morgan Stanley

Assurant (NYSE:AIZ) had its price objective upped by equities research analysts at Morgan Stanley from $300.00 to $330.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley‘s target price suggests a potential upside of 4.81% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Assurant from $325.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday. Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial lifted their price target on shares of Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group boosted their price objective on shares of Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, Assurant currently has an average rating of “Buy” and a consensus target price of $335.29.

Assurant Stock Up 2.6%

Shares of NYSE:AIZ traded up $7.86 on Monday, reaching $314.86. The company had a trading volume of 110,558 shares, compared to its average volume of 393,142. Assurant has a twelve month low of $209.86 and a twelve month high of $316.72. The stock has a 50-day moving average price of $280.40 and a 200 day moving average price of $256.27. The stock has a market capitalization of $15.53 billion, a P/E ratio of 14.79 and a beta of 0.52. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.37.

Assurant (NYSE:AIZ) last issued its quarterly earnings data 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.73 EPS. On average, equities analysts expect that Assurant will post 22.99 EPS for the current year.

Institutional Trading of Assurant

Several hedge funds have recently added to or reduced their stakes in AIZ. BlackRock Inc. bought a new position in Assurant in the 2nd quarter worth approximately $1,345,211,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Assurant in the second quarter valued at approximately $1,826,000. Bank of America Corp DE bought a new stake in shares of Assurant in the second quarter valued at approximately $269,635,000. Canada Pension Plan Investment Board acquired a new stake in shares of Assurant in the second quarter worth $8,700,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Assurant by 173.2% in the third quarter. Assenagon Asset Management S.A. now owns 24,059 shares of the financial services provider’s stock worth $6,340,000 after acquiring an additional 15,252 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

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.

The company serves customers and business partners in markets across North America, Latin America, Europe, and Asia-Pacific.