Assurant, Inc. (NYSE:AIZ) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Assurant, Inc. (NYSE:AIZ) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $225.20.

AIZ has been the topic of several research analyst reports. Bank of America boosted their price target 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. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Truist Financial increased their price target on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pathstone Holdings LLC increased its holdings in Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after buying an additional 52 shares during the last quarter. US Bancorp DE increased its stake in shares of Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 56 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in Assurant by 4.2% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 59 shares during the period. Richardson Financial Services Inc. lifted its position in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Assurant by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 78 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Trading Up 1.6 %

AIZ opened at $218.82 on Wednesday. Assurant has a one year low of $159.32 and a one year high of $219.05. 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 business has a 50 day simple moving average of $197.03 and a two-hundred day simple moving average of $182.78. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.18 and a beta of 0.57.

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

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.