Assurant (NYSE:AIZ) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Assurant (NYSE:AIZ) had its price target increased by analysts at Keefe, Bruyette & Woods from $270.00 to $310.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.69% from the company’s previous close.

Several other research firms have also weighed in on AIZ. UBS Group boosted their price objective on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Royal Bank Of Canada set a $310.00 price target on Assurant in a report on Wednesday, June 17th. Truist Financial lifted their price objective on shares of Assurant from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings downgraded shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average target price of $291.43.

Assurant Stock Performance

NYSE:AIZ opened at $280.05 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. Assurant has a fifty-two week low of $183.39 and a fifty-two week high of $284.12. The company has a 50 day simple moving average of $254.96 and a two-hundred day simple moving average of $237.85. The company has a market capitalization of $13.88 billion, a PE ratio of 14.32 and a beta of 0.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the firm posted $5.79 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Assurant will post 21.04 earnings per share for the current year.

Insider Buying and Selling at Assurant

In related news, CAO Dimitry Dirienzo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the sale, the chief accounting officer owned 2,741 shares in the company, valued at $700,818.88. This represents a 42.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Lonergan sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the completion of the transaction, the executive vice president directly owned 27,374 shares in the company, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 36,000 shares of company stock worth $9,211,620. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CYBER HORNET ETFs LLC bought a new stake in Assurant during the second quarter worth $27,000. Montag A & Associates Inc. purchased a new position in Assurant during the 4th quarter worth $28,000. BOKF NA bought a new stake in shares of Assurant in the 3rd quarter worth $32,000. Western Wealth Management LLC purchased a new stake in shares of Assurant in the first quarter valued at about $33,000. Finally, Arlington Trust Co LLC lifted its position in shares of Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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.