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

Assurant (NYSE:AIZ) had its price target hoisted by Truist Financial from $280.00 to $290.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the company. Morgan Stanley reduced their price objective on Assurant from $248.00 to $240.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Weiss Ratings upgraded Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, April 27th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, BMO Capital Markets reduced their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.50.

Assurant Price Performance

Shares of AIZ opened at $233.45 on Thursday. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 11.94 and a beta of 0.56. The stock has a 50 day moving average of $223.58 and a 200-day moving average of $226.84. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant has a 52 week low of $183.39 and a 52 week high of $246.31.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.79 EPS. As a group, analysts forecast that Assurant will post 20.75 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 750 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.98, for a total value of $158,235.00. Following the sale, the chief accounting officer owned 4,741 shares of the company’s stock, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Subhashish Sengupta sold 1,880 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the sale, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This represents a 39.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,650 shares of company stock worth $558,331 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the 2nd quarter worth $27,000. Montag A & Associates Inc. bought a new stake in shares of Assurant in the 4th quarter worth $28,000. Smartleaf Asset Management LLC raised its stake in shares of Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares in the last quarter. Finally, BOKF NA bought a new stake in shares of Assurant in the 3rd quarter worth $32,000. Institutional investors own 92.65% of the company’s stock.

About Assurant

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.