Assurant (NYSE:AIZ) Stock Price Expected to Rise, Truist Financial Analyst Says

Assurant (NYSE:AIZ) had its target price raised by research analysts at Truist Financial from $220.00 to $240.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 16.80% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Piper Sandler boosted their target price on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Assurant Price Performance

NYSE:AIZ traded down $0.89 during trading hours on Thursday, hitting $205.48. 8,437 shares of the stock traded hands, compared to its average volume of 344,218. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. Assurant has a 1 year low of $158.29 and a 1 year high of $207.30. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. The stock has a 50 day moving average price of $194.70 and a 200 day moving average price of $180.94.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm earned $4.29 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Assurant will post 14.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIZ. Janney Montgomery Scott LLC grew its holdings in shares of Assurant by 5.2% in the first quarter. Janney Montgomery Scott LLC now owns 3,816 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 189 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Assurant by 15.8% in the first quarter. Daiwa Securities Group Inc. now owns 5,862 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 801 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Assurant in the first quarter worth about $99,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Assurant by 62.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,503 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 959 shares during the last quarter. Finally, Csenge Advisory Group bought a new position in shares of Assurant in the first quarter worth about $340,000. 92.65% of the stock is currently 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.