Assurant (NYSE:AIZ) Price Target Raised to $377.00

Assurant (NYSE:AIZ) had its price objective increased by UBS Group from $331.00 to $377.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.

AIZ has been the topic of a number of other research reports. Zacks Research upgraded Assurant from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 16th. BMO Capital Markets lifted their target price on Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $325.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Piper Sandler upped their price target on shares of Assurant from $329.00 to $356.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Truist Financial raised their price target 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 analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $341.86.

Assurant Trading Down 0.6%

AIZ opened at $321.49 on Tuesday. The stock has a market cap of $15.78 billion, a price-to-earnings ratio of 13.41 and a beta of 0.52. The stock’s 50 day moving average price is $283.45 and its 200-day moving average price is $257.97. Assurant has a one year low of $209.86 and a one year high of $326.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.38 and a current ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $1.40. Assurant had a return on equity of 20.44% and a net margin of 7.80%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the company earned $5.73 EPS. Assurant’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Assurant will post 23.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Assurant during the 2nd quarter valued at $1,345,211,000. Bank of New York Mellon Corp bought a new position in shares of Assurant during the 2nd quarter worth $1,269,591,000. Bank of America Corp DE bought a new position in shares of Assurant during the 2nd quarter worth $269,635,000. Dimensional Fund Advisors LP grew its position in shares of Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock worth $245,121,000 after buying an additional 205,767 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Assurant by 9.2% during 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 period. Institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc. is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle. Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.