Assurant (NYSE:AIZ) Price Target Raised to $212.00 at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price objective boosted by Keefe, Bruyette & Woods from $194.00 to $212.00 in a report issued on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other research analysts have also weighed in on AIZ. Piper Sandler boosted their price target on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial upped their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America upped their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.20.

Assurant Price Performance

NYSE:AIZ traded up $1.44 during mid-day trading on Tuesday, reaching $216.92. 16,642 shares of the stock were exchanged, compared to its average volume of 346,990. The business has a fifty day moving average price of $196.09 and a 200 day moving average price of $182.18. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11.13 billion, a PE ratio of 15.37, a PEG ratio of 2.12 and a beta of 0.57. Assurant has a 1-year low of $159.32 and a 1-year high of $217.58.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. Assurant’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.29 earnings per share. Research analysts expect that Assurant will post 15.05 earnings per share for the current fiscal year.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This trade represents a 14.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Assurant during the third quarter worth about $25,000. Innealta Capital LLC bought a new stake in Assurant in the second quarter valued at about $31,000. Huntington National Bank boosted its stake in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Richardson Financial Services Inc. boosted its stake in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Assurant in the third quarter valued at approximately $42,000. 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.