Keefe, Bruyette & Woods Boosts Assurant (NYSE:AIZ) Price Target to $212.00

Assurant (NYSE:AIZ) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $194.00 to $212.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 0.16% from the stock’s previous close.

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

Assurant Stock Up 0.4 %

Assurant stock traded up $0.94 during midday trading on Tuesday, hitting $211.67. 92,541 shares of the stock were exchanged, compared to its average volume of 344,239. Assurant has a 1 year low of $159.32 and a 1 year high of $214.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market cap of $10.96 billion, a P/E ratio of 15.10, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a 50 day moving average price of $195.46 and a two-hundred day moving average price of $181.69.

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

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction 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 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of Assurant by 5.2% during the first quarter. Janney Montgomery Scott LLC now owns 3,816 shares of the financial services provider’s stock valued at $718,000 after acquiring an additional 189 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Assurant by 11.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,447 shares of the financial services provider’s stock worth $1,025,000 after buying an additional 550 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Assurant by 103.3% in the first quarter. SG Americas Securities LLC now owns 14,592 shares of the financial services provider’s stock valued at $2,747,000 after buying an additional 7,415 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Assurant by 67.3% during the first quarter. Oppenheimer & Co. Inc. now owns 2,900 shares of the financial services provider’s stock valued at $546,000 after buying an additional 1,167 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in Assurant by 12.8% during the first quarter. Atomi Financial Group Inc. now owns 1,391 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 158 shares during the period. 92.65% of the stock is currently 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.