Assurant (NYSE:AIZ) Stock Rating Upgraded by Wall Street Zen

Assurant (NYSE:AIZ) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

AIZ has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Assurant from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday. Morgan Stanley decreased their price objective on shares of Assurant from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Finally, Truist Financial boosted their price objective on shares of Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $324.29.

Assurant Price Performance

AIZ stock opened at $266.23 on Friday. The company has a market cap of $13.13 billion, a PE ratio of 12.71 and a beta of 0.52. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $279.19 and a two-hundred day moving average price of $260.74. Assurant has a 12-month low of $206.03 and a 12-month high of $303.94.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $5.56 EPS. As a group, research analysts predict that Assurant will post 22.40 EPS for the current year.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,931 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $302.46, for a total value of $1,188,970.26. Following the completion of the sale, the executive vice president owned 24,247 shares of the company’s stock, valued at $7,333,747.62. This represents a 13.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Assurant

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Assurant by 8.1% in the third quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 225 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Assurant by 13.4% in the second quarter. QRG Capital Management Inc. now owns 6,426 shares of the financial services provider’s stock valued at $1,725,000 after buying an additional 761 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Assurant by 41.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,417 shares of the financial services provider’s stock valued at $381,000 after buying an additional 412 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Assurant by 26.3% during the second quarter. Sequoia Financial Advisors LLC now owns 3,535 shares of the financial services provider’s stock valued at $949,000 after buying an additional 735 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Assurant by 9.5% during the second quarter. Tidal Investments LLC now owns 4,091 shares of the financial services provider’s stock valued at $1,099,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global business services company that provides insurance products and related services supporting major purchases and everyday needs. Its offerings are distributed through partnerships with mobile carriers, retailers, automotive manufacturers and dealers, financial institutions, housing providers, and other businesses.

Through its Global Lifestyle business, Assurant provides mobile device protection, extended service contracts, vehicle service contracts, and related protection products.