Assurant (NYSE:AIZ) PT Raised to $224.00 at UBS Group

by · The Markets Daily

Assurant (NYSE:AIZ – Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $217.00 to $224.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 13.53% from the company’s previous close.

Several other brokerages have also recently issued reports on AIZ. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Bank of America cut their target price on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Piper Sandler downgraded Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.00.

Get Our Latest Analysis on AIZ

Assurant Price Performance

NYSE:AIZ opened at $197.31 on Monday. The business’s 50-day moving average is $184.85 and its 200 day moving average is $177.63. Assurant has a 12 month low of $141.83 and a 12 month high of $199.50. The company has a market capitalization of $10.26 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm earned $3.89 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Assurant will post 16.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assurant

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after buying an additional 255,471 shares in the last quarter. AMF Tjanstepension AB purchased a new position in Assurant during the 1st quarter valued at about $39,013,000. Gillson Capital LP bought a new stake in shares of Assurant in the 4th quarter valued at about $27,013,000. Northern Trust Corp lifted its position in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after purchasing an additional 139,680 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after purchasing an additional 96,021 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Company Profile

(Get Free Report)

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.

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