Assurant, Inc. (NYSE:AIZ) Receives $272.17 Average Target Price from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $272.1667.

Several research firms have recently commented on AIZ. Piper Sandler lifted their price target on shares of Assurant from $264.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $240.00 to $285.00 in a report on Thursday, May 14th. UBS Group lifted their price target on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday, May 11th. Truist Financial lifted their price target on shares of Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Assurant from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th.

Assurant Price Performance

Shares of AIZ opened at $255.53 on Friday. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 13.07 and a beta of 0.56. The stock has a 50 day moving average of $228.20 and a 200-day moving average of $229.63. The company has a current ratio of 0.39, 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 $260.96.

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 21.01 EPS for the current year.

Insider Buying and Selling at Assurant

In other news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the transaction, the executive vice president directly owned 2,895 shares of the company’s stock, valued at approximately $609,484.35. The trade was a 39.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Keith Meier sold 25,000 shares of Assurant stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the completion of the transaction, the executive vice president directly owned 18,552 shares of the company’s stock, valued at $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,650 shares of company stock valued at $7,419,621. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Assurant

Several hedge funds have recently bought and sold shares of AIZ. Bank of New York Mellon Corp lifted its position in Assurant by 23.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after purchasing an additional 959,259 shares during the last quarter. Norges Bank bought a new stake in Assurant in the 4th quarter valued at about $161,574,000. Adage Capital Partners GP L.L.C. lifted its position in Assurant by 676.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,240 shares of the financial services provider’s stock valued at $57,862,000 after purchasing an additional 209,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Assurant by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock valued at $245,121,000 after purchasing an additional 205,767 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Assurant by 122.9% in the 4th quarter. Millennium Management LLC now owns 322,235 shares of the financial services provider’s stock valued at $77,610,000 after purchasing an additional 177,642 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

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.