Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Assurant (NYSE:AIZ) Stock

Assurant (NYSE:AIZ) had its target price lifted by analysts at Keefe, Bruyette & Woods from $224.00 to $225.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 12.16% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a research report on Thursday, April 10th. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Truist Financial lifted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley upped their price target on Assurant from $200.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $228.67.

Assurant Stock Down 1.4%

AIZ stock opened at $200.61 on Monday. Assurant has a one year low of $160.12 and a one year high of $230.55. The firm has a market cap of $10.20 billion, a PE ratio of 13.86 and a beta of 0.59. The firm’s 50 day moving average price is $198.23 and its 200-day moving average price is $207.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.61. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.78 EPS. On average, equities research analysts anticipate that Assurant will post 16.88 EPS for the current year.

Insider Transactions at Assurant

In related news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Assurant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Assurant by 48.4% during the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after acquiring an additional 62,696 shares during the period. Park Avenue Securities LLC grew its stake in Assurant by 27.8% during the 4th quarter. Park Avenue Securities LLC now owns 6,492 shares of the financial services provider’s stock worth $1,384,000 after purchasing an additional 1,411 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Assurant by 60.0% during the 4th quarter. Ritholtz Wealth Management now owns 4,049 shares of the financial services provider’s stock worth $863,000 after purchasing an additional 1,518 shares during the period. Merit Financial Group LLC purchased a new stake in Assurant during the 4th quarter worth about $254,000. Finally, Nisa Investment Advisors LLC raised its position in Assurant by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 29,531 shares of the financial services provider’s stock valued at $6,297,000 after purchasing an additional 305 shares in the last quarter. 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.