Assurant (NYSE:AIZ) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Assurant (NYSE:AIZ) had its target price hoisted by Keefe, Bruyette & Woods from $224.00 to $225.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 10.49% from the company’s previous close.

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

Assurant Trading Up 0.6%

Shares of AIZ traded up $1.31 during trading hours on Monday, hitting $203.64. The company had a trading volume of 139,007 shares, compared to its average volume of 391,400. Assurant has a 52-week low of $160.12 and a 52-week high of $230.55. The firm has a market cap of $10.36 billion, a P/E ratio of 14.07 and a beta of 0.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $198.26 and its 200 day moving average price is $207.14.

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

Insider Buying and Selling

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Assurant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. increased its stake in Assurant by 0.7% in the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 50 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Assurant by 47.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock valued at $40,000 after buying an additional 61 shares during the period. LRI Investments LLC grew its holdings in Assurant by 14.0% in the fourth quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 68 shares during the last quarter. KBC Group NV lifted its stake in shares of Assurant by 1.6% during the first quarter. KBC Group NV now owns 4,745 shares of the financial services provider’s stock worth $995,000 after buying an additional 73 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 75 shares during the period. 92.65% of the stock is owned by institutional investors.

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.