Assurant (NYSE:AIZ) Price Target Raised to $330.00

Assurant (NYSE:AIZ) had its price target lifted by Morgan Stanley from $300.00 to $330.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on AIZ. UBS Group raised their price target on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Piper Sandler upped their price objective on Assurant from $329.00 to $356.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings raised Assurant from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Assurant from $325.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $341.86.

Assurant Stock Up 0.3%

AIZ opened at $323.20 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $15.86 billion, a price-to-earnings ratio of 13.36 and a beta of 0.52. Assurant has a one year low of $209.86 and a one year high of $323.41. The business’s fifty day moving average is $282.70 and its two-hundred day moving average is $257.54.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $1.40. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company posted $5.73 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Analysts anticipate that Assurant will post 23.68 EPS for the current fiscal year.

Institutional Trading of Assurant

A number of hedge funds have recently added to or reduced their stakes in AIZ. GW&K Investment Management LLC grew its stake in shares of Assurant by 0.4% during the 3rd quarter. GW&K Investment Management LLC now owns 238,860 shares of the financial services provider’s stock valued at $62,941,000 after buying an additional 1,035 shares during the period. Meeder Asset Management Inc. increased its stake in Assurant by 835.7% during the third quarter. Meeder Asset Management Inc. now owns 4,772 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 4,262 shares during the last quarter. Global Retirement Partners LLC increased its stake in Assurant by 181.6% during the third quarter. Global Retirement Partners LLC now owns 3,196 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 2,061 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in Assurant during the third quarter worth about $1,872,000. Finally, Cibc World Market Inc. raised its holdings in shares of Assurant by 360.6% in the 3rd quarter. Cibc World Market Inc. now owns 9,580 shares of the financial services provider’s stock worth $2,524,000 after purchasing an additional 7,500 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Key Assurant News

Here’s some of the latest news about AIZ:

• Positive Sentiment: Morgan Stanley also raised its price target for Assurant, adding to the positive analyst-revision backdrop; the available report did not specify the new target or rating. Morgan Stanley target update
• Positive Sentiment: Zacks said solid earnings-estimate revisions could help AIZ’s recent gains continue. Assurant was also added to Zacks Rank #1 (Strong Buy) lists for momentum, value, and overall stock selection. These rankings may bolster sentiment, though they are screening signals rather than guarantees of future performance. Zacks analysis Zacks momentum list
• Neutral Sentiment: Assurant presented its sixth mobility-modified vehicle to a wounded veteran through its partnership with Wounded Warriors Family Support. The announcement reinforces its community-support efforts but is not expected to have a material near-term financial effect. Assurant and Wounded Warriors Family Support announcement

Assurant Company Profile

Assurant, Inc. is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle. Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.