Assurant (NYSE:AIZ – Get Free Report) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $325.00 to $345.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods‘s target price would indicate a potential upside of 11.66% from the company’s previous close.
Several other research analysts have also recently issued reports on AIZ. Piper Sandler raised their price objective on Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley cut their price target on shares of Assurant from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings raised shares of Assurant from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, Assurant has an average rating of “Buy” and an average price target of $327.14.
Get Our Latest Analysis on Assurant
Assurant Trading Up 4.3%
NYSE AIZ opened at $308.99 on Thursday. The stock has a market cap of $15.24 billion, a P/E ratio of 12.28 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. Assurant has a 12-month low of $209.86 and a 12-month high of $314.39. The company has a fifty day simple moving average of $279.62 and a two-hundred day simple moving average of $255.54.
Assurant (NYSE:AIZ – Get Free Report) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.75 by $1.40. Assurant had a return on equity of 20.48% and a net margin of 7.80%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the firm earned $5.73 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. On average, analysts forecast that Assurant will post 22.40 earnings per share for the current year.
Institutional Investors Weigh In On Assurant
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Assurant during the 2nd quarter worth approximately $1,345,211,000. Bank of New York Mellon Corp acquired a new stake in Assurant in the 2nd quarter valued at $1,269,591,000. Bank of America Corp DE acquired a new position in Assurant during the second quarter worth $269,635,000. Dimensional Fund Advisors LP lifted its holdings in Assurant by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock valued at $245,121,000 after purchasing an additional 205,767 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in 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 purchasing an additional 53,470 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.
About Assurant
Assurant, Inc (NYSE:AIZ) is a global business services company that provides insurance products and related services. Its offerings are designed to help consumers protect mobile devices, household belongings, vehicles, homes and other significant purchases, while supporting businesses in managing risk and customer relationships.
Assurant operates through three primary business segments: Global Lifestyle, Global Housing and Global Preneed. Global Lifestyle provides mobile device protection, extended service contracts and related services for consumer electronics, appliances and vehicles.
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