Assurant (NYSE:AIZ) Price Target Cut to $224.00 by Analysts at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $230.00 to $224.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 25.06% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial raised their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.17.

Assurant Price Performance

AIZ stock traded down $0.62 on Wednesday, reaching $179.12. 148,642 shares of the company’s stock were exchanged, compared to its average volume of 374,259. The stock has a fifty day moving average of $206.29 and a 200-day moving average of $207.36. The firm has a market cap of $9.10 billion, a PE ratio of 12.35 and a beta of 0.53. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, equities analysts predict that Assurant will post 16.88 EPS for the current fiscal year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Assurant

A number of institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP lifted its stake in shares of Assurant by 10.8% during the 3rd quarter. Quantinno Capital Management LP now owns 5,805 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 566 shares during the period. Kovitz Investment Group Partners LLC increased its stake in Assurant by 82.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,444 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 1,101 shares during the last quarter. National Bank of Canada FI lifted its position in Assurant by 198.4% during the third quarter. National Bank of Canada FI now owns 41,909 shares of the financial services provider’s stock worth $8,334,000 after buying an additional 27,866 shares during the period. MML Investors Services LLC boosted its stake in Assurant by 19.5% in the 3rd quarter. MML Investors Services LLC now owns 2,677 shares of the financial services provider’s stock worth $532,000 after buying an additional 436 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Assurant by 13.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,322 shares of the financial services provider’s stock worth $3,246,000 after buying an additional 1,888 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

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.