Keefe, Bruyette & Woods Issues Positive Forecast for Assurant (NYSE:AIZ) Stock Price

Assurant (NYSE:AIZ) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $248.00 to $254.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 12.90% from the stock’s current price.

AIZ has been the topic of several other research reports. Morgan Stanley upped their price target on Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Monday. Benchmark assumed coverage on Assurant in a research note on Tuesday, August 12th. They issued a “buy” rating on the stock. Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research note on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

Assurant Stock Up 0.2%

Shares of AIZ stock traded up $0.36 during midday trading on Thursday, reaching $224.98. 107,080 shares of the stock were exchanged, compared to its average volume of 442,087. Assurant has a 1 year low of $174.97 and a 1 year high of $232.02. The firm has a market cap of $11.27 billion, a PE ratio of 16.28 and a beta of 0.56. The company’s 50 day moving average is $215.83 and its two-hundred day moving average is $205.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The business had revenue of $2.42 billion during the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, equities research analysts predict that Assurant will post 16.88 EPS for the current year.

Insider Buying and Selling

In other Assurant news, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. This trade represents a 13.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 22,275 shares of company stock worth $4,909,946 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Assurant

A number of institutional investors and hedge funds have recently made changes to their positions in AIZ. Zions Bancorporation National Association UT bought a new position in Assurant in the 1st quarter worth $26,000. Versant Capital Management Inc raised its stake in shares of Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Assurant in the second quarter worth about $27,000. REAP Financial Group LLC lifted its position in shares of Assurant by 193.9% during the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after buying an additional 95 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Assurant by 1,133.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

About Assurant

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.