Assurant (NYSE:AIZ) Price Target Raised to $240.00 at Truist Financial

Assurant (NYSE:AIZ) had its target price raised by equities research analysts at Truist Financial from $220.00 to $240.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 16.80% from the stock’s current price.

A number of other brokerages have also recently issued reports on AIZ. Keefe, Bruyette & Woods lifted their price target 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 lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Piper Sandler raised their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Assurant Stock Down 0.4 %

NYSE AIZ traded down $0.89 during trading hours on Thursday, reaching $205.48. 8,437 shares of the company’s stock traded hands, compared to its average volume of 344,218. Assurant has a 52-week low of $158.29 and a 52-week high of $207.30. The firm has a market cap of $10.64 billion, a PE ratio of 13.71, a PEG ratio of 2.04 and a beta of 0.57. The firm has a 50-day simple moving average of $194.70 and a 200 day simple moving average of $180.94. 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 (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the company posted $4.29 EPS. Assurant’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Assurant will post 14.13 EPS for the current fiscal year.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 550 shares of Assurant 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In related 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 value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Assurant

A number of institutional investors and hedge funds have recently made changes to their positions in AIZ. Janney Montgomery Scott LLC boosted 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 buying an additional 189 shares during the last quarter. Daiwa Securities Group Inc. boosted 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 buying an additional 801 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Assurant in the first quarter worth approximately $99,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Assurant by 62.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,503 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 959 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in Assurant during the first quarter valued at approximately $340,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

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.