Assurant (NYSE:AIZ – Get Free Report) had its price target raised by stock analysts at Piper Sandler from $268.00 to $290.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 13.77% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets reduced their price target on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial upped their price target on shares of Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and a consensus target price of $275.83.
View Our Latest Stock Analysis on AIZ
Assurant Price Performance
Assurant (NYSE:AIZ – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.79 earnings per share. On average, research analysts forecast that Assurant will post 21.04 earnings per share for the current fiscal year.
Insider Activity at Assurant
In other Assurant news, EVP Keith Meier sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the sale, the executive vice president owned 18,552 shares in the company, valued at $4,717,959.12. This represents a 57.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jay Rosenblum sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the completion of the sale, the executive vice president owned 12,764 shares of the company’s stock, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,650 shares of company stock worth $7,419,621 in the last quarter. 0.54% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Assurant
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arete Wealth Advisors LLC purchased a new stake in Assurant in the 1st quarter worth approximately $22,271,000. Western Wealth Management LLC purchased a new stake in Assurant in the 1st quarter worth approximately $33,000. Bank of America Corp DE lifted its position in Assurant by 1.3% in the 1st quarter. Bank of America Corp DE now owns 361,210 shares of the financial services provider’s stock worth $78,675,000 after buying an additional 4,460 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Assurant in the 1st quarter worth approximately $1,308,000. Finally, Amundi raised its holdings in shares of Assurant by 96.2% during the 1st quarter. Amundi now owns 151,136 shares of the financial services provider’s stock valued at $32,919,000 after purchasing an additional 74,086 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Assurant Company Profile
Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.
Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.
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