Truist Financial Issues Positive Forecast for Assurant (NYSE:AIZ) Stock Price

Assurant (NYSE:AIZ) had its target price lifted by research analysts at Truist Financial from $265.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 27.80% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group boosted their target price on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Morgan Stanley raised their target price on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Zacks Research downgraded shares of Assurant from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Piper Sandler increased their price target on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average target price of $258.17.

Assurant Stock Up 1.4%

NYSE AIZ traded up $3.08 during mid-day trading on Thursday, hitting $219.09. The company’s stock had a trading volume of 46,840 shares, compared to its average volume of 364,796. The company’s 50 day simple moving average is $235.82 and its 200 day simple moving average is $221.47. Assurant has a twelve month low of $174.97 and a twelve month high of $246.31. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 12.95 and a beta of 0.56.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.96%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.79 EPS. Analysts anticipate that Assurant will post 16.88 earnings per share for the current year.

Institutional Trading of Assurant

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Assurant by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider’s stock worth $1,338,041,000 after acquiring an additional 88,749 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock valued at $1,213,968,000 after purchasing an additional 29,974 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Assurant by 4.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,245,022 shares of the financial services provider’s stock valued at $245,879,000 after purchasing an additional 53,773 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Assurant by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock worth $186,808,000 after buying an additional 113,235 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Assurant during the fourth quarter worth approximately $161,574,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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.