Assurant Inc. (AIZ) Research Coverage Started at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of Assurant Inc. (NYSE:AIZ) in a research report released on Friday morning. The firm issued a neutral rating and a $93.00 target price on the stock.
Other equities analysts also recently issued reports about the stock. Goldman Sachs Group Inc. downgraded shares of Assurant to a buy rating and set a $95.00 price objective on the stock. in a report on Sunday, July 17th. Zacks Investment Research downgraded shares of Assurant from a buy rating to a hold rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a hold rating and issued a $77.00 price objective on shares of Assurant in a report on Wednesday, July 6th. Finally, DOWLING & PARTN restated a neutral rating on shares of Assurant in a research note on Tuesday, August 23rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $91.00.
Shares of Assurant (NYSE:AIZ) opened at 90.50 on Friday. The firm has a market cap of $5.45 billion, a PE ratio of 13.36 and a beta of 0.76. The firm has a 50-day moving average of $89.64 and a 200 day moving average of $85.72. Assurant has a 52-week low of $64.36 and a 52-week high of $92.63.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by $0.04. Assurant had a net margin of 4.97% and a return on equity of 8.08%. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Assurant’s revenue for the quarter was down 32.0% on a year-over-year basis. On average, equities analysts predict that Assurant will post $5.90 earnings per share for the current year.
In related news, Director Robert W. Stein sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $84.01, for a total transaction of $210,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher J. Pagano sold 6,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $89.76, for a total transaction of $538,560.00. Following the sale, the executive vice president now directly owns 70,149 shares of the company’s stock, valued at approximately $6,296,574.24. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Large investors have recently bought and sold shares of the company. Telemus Capital LLC purchased a new stake in Assurant during the third quarter valued at $276,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Assurant during the second quarter valued at $216,000. Kentucky Retirement Systems purchased a new stake in Assurant during the second quarter valued at $455,000. Mason Street Advisors LLC purchased a new stake in Assurant during the second quarter valued at $720,000. Finally, Royal Bank of Canada boosted its stake in Assurant by 204.4% in the second quarter. Royal Bank of Canada now owns 224,140 shares of the company’s stock valued at $19,345,000 after buying an additional 150,502 shares in the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.
Assurant Company Profile
Receive News & Ratings for Assurant Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant Inc. and related companies with MarketBeat.com's FREE daily email newsletter.