Assurant (NYSE:AIZ) PT Raised to $217.00

Assurant (NYSE:AIZ) had its price objective upped by equities researchers at Piper Sandler from $200.00 to $217.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 10.45% from the stock’s current price.

AIZ has been the subject of a number of other research reports. UBS Group upped their price objective on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Bank of America dropped their target price on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods increased their target price on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.40.

Assurant Stock Down 1.6 %

AIZ stock opened at $196.47 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. Assurant has a 1-year low of $142.01 and a 1-year high of $201.55. The stock has a market capitalization of $10.21 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.68 and a beta of 0.57. The business has a fifty day moving average price of $188.74 and a 200-day moving average price of $178.55.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the firm earned $3.89 EPS. Assurant’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Assurant will post 16.54 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

Several institutional investors have recently added to or reduced their stakes in the company. Leuthold Group LLC purchased a new stake in Assurant in the 1st quarter valued at about $3,730,000. QRG Capital Management Inc. lifted its holdings in shares of Assurant by 210.7% during the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock valued at $1,639,000 after purchasing an additional 5,903 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Assurant in the first quarter valued at about $1,213,000. SteelPeak Wealth LLC lifted its stake in shares of Assurant by 770.1% during the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock worth $2,170,000 after buying an additional 11,551 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Assurant by 3.0% during the first quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after purchasing an additional 7,150 shares during the period. Institutional investors own 92.65% of the company’s stock.

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.