Assurant, Inc. (NYSE:AIZ) Receives $234.17 Average PT from Brokerages

Assurant, Inc. (NYSE:AIZ) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $234.17.

AIZ has been the subject of several recent research reports. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective for the company in a report on Thursday, April 10th. Truist Financial upped their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price objective on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th.

Assurant Price Performance

Shares of AIZ stock opened at $189.01 on Friday. The company has a market capitalization of $9.61 billion, a P/E ratio of 13.06 and a beta of 0.53. The company’s 50-day simple moving average is $202.17 and its two-hundred day simple moving average is $206.81. Assurant has a one year low of $160.12 and a one year high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43.

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

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AIZ. Cascade Investment Advisors Inc. increased its stake in shares of Assurant by 0.7% in the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after acquiring an additional 50 shares during the period. LRI Investments LLC grew its holdings in Assurant by 14.0% in the fourth quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 68 shares during the period. Smartleaf Asset Management LLC increased its holdings in Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 84 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Assurant by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 84 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.