Assurant (NYSE:AIZ) Stock Price Expected to Rise, Truist Financial Analyst Says

Assurant (NYSE:AIZ) had its price objective lifted by equities research analysts at Truist Financial from $220.00 to $240.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 14.59% from the company’s current price.

A number of other research analysts also recently issued reports on AIZ. Piper Sandler upped their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America upped their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group boosted their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.60.

Assurant Stock Up 1.8 %

NYSE:AIZ opened at $209.45 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $10.85 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.03 and a beta of 0.57. Assurant has a fifty-two week low of $158.68 and a fifty-two week high of $209.73. The firm has a 50-day simple moving average of $195.18 and a two-hundred day simple moving average of $181.36.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm earned $4.29 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Assurant will post 14.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

Hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. lifted its holdings in Assurant by 210.7% in the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after purchasing an additional 5,903 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of Assurant by 770.1% during the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock worth $2,170,000 after acquiring an additional 11,551 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in Assurant by 608.5% during the first quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider’s stock valued at $1,062,000 after acquiring an additional 4,844 shares in the last quarter. Bessemer Group Inc. increased its holdings in Assurant by 3,412.0% in the 1st quarter. Bessemer Group Inc. now owns 14,645 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 14,228 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Assurant by 443.7% in the 1st quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider’s stock worth $2,442,000 after purchasing an additional 10,587 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.