Assurant (NYSE:AIZ) Given New $270.00 Price Target at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price target boosted by Keefe, Bruyette & Woods from $258.00 to $270.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently commented on AIZ. BMO Capital Markets reduced their target price on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Piper Sandler increased their target price on shares of Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Truist Financial increased their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their price target on Assurant from $248.00 to $240.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.67.

Assurant Stock Down 0.4%

AIZ stock opened at $242.38 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $12.01 billion, a P/E ratio of 12.40 and a beta of 0.56. The business has a 50-day moving average of $224.63 and a 200-day moving average of $227.73. Assurant has a fifty-two week low of $183.39 and a fifty-two week high of $247.41.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the company posted $5.79 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Assurant will post 20.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 750 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the sale, the chief accounting officer owned 4,741 shares in the company, valued at $1,000,256.18. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the sale, the executive vice president owned 2,895 shares of the company’s stock, valued at approximately $609,484.35. This represents a 39.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,650 shares of company stock valued at $558,331. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Assurant

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its position in shares of Assurant by 30.7% in the first quarter. Sei Investments Co. now owns 80,774 shares of the financial services provider’s stock valued at $17,593,000 after buying an additional 18,966 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Assurant by 9.2% in the first quarter. First Trust Advisors LP now owns 632,896 shares of the financial services provider’s stock valued at $137,851,000 after buying an additional 53,470 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Assurant by 22.0% in the first quarter. WCM Investment Management LLC now owns 1,142 shares of the financial services provider’s stock valued at $247,000 after buying an additional 206 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Assurant by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock valued at $245,121,000 after buying an additional 205,767 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Assurant by 21.4% in the first quarter. Parallel Advisors LLC now owns 386 shares of the financial services provider’s stock valued at $84,000 after buying an additional 68 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.