Assurant (NYSE:AIZ) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Assurant (NYSE:AIZ) had its price target upped by research analysts at Morgan Stanley from $217.00 to $218.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 17.65% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on AIZ. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods raised their price target on Assurant from $224.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.83.

Assurant Price Performance

Assurant stock opened at $185.30 on Monday. The stock has a market capitalization of $9.43 billion, a P/E ratio of 14.44 and a beta of 0.59. Assurant has a 12-month low of $164.63 and a 12-month high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41. The firm’s 50-day moving average is $197.02 and its two-hundred day moving average is $201.51.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.61. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a net margin of 5.55% and a return on equity of 15.49%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.78 earnings per share. Equities analysts predict that Assurant will post 16.88 earnings per share for the current year.

Insider Transactions at Assurant

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the sale, the executive vice president directly owned 11,775 shares in the company, valued at $2,377,725.75. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Assurant

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in Assurant in the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Assurant in the first quarter worth about $28,000. Private Trust Co. NA grew its stake in shares of Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock valued at $31,000 after buying an additional 98 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock valued at $34,000 after buying an additional 122 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.