Assurant (NYSE:AIZ) Given New $212.00 Price Target at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its target price hoisted by Keefe, Bruyette & Woods from $194.00 to $212.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 0.58% from the stock’s previous close.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America lifted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group lifted their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Assurant Stock Performance

NYSE AIZ opened at $213.24 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 2.11 and a beta of 0.57. The company’s fifty day moving average is $195.77 and its two-hundred day moving average is $181.96. Assurant has a 52-week low of $159.32 and a 52-week high of $214.82.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $4.29 EPS. Equities research analysts forecast that Assurant will post 15.05 EPS for the current year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

A number of institutional investors have recently modified their holdings of AIZ. Innealta Capital LLC bought a new position in shares of Assurant in the second quarter worth about $31,000. Richardson Financial Services Inc. raised its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares during the last quarter. Huntington National Bank raised its stake in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Assurant during the third quarter worth approximately $42,000. Finally, Family Firm Inc. bought a new stake in shares of Assurant during the second quarter worth approximately $51,000. 92.65% of the stock is owned by institutional investors.

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.