Truist Financial Increases Assurant (NYSE:AIZ) Price Target to $250.00

Assurant (NYSE:AIZ) had its target price boosted by equities research analysts at Truist Financial from $240.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 20.51% from the company’s current price.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods raised their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Four investment 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 stock presently has an average rating of “Hold” and a consensus price target of $231.17.

Assurant Stock Performance

Shares of AIZ opened at $207.46 on Thursday. Assurant has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $212.83 and its two-hundred day moving average price is $202.44. The firm has a market cap of $10.64 billion, a PE ratio of 14.80 and a beta of 0.62.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.42% and a net margin of 6.31%. On average, equities research analysts forecast that Assurant will post 15.82 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. True Wealth Design LLC bought a new position in shares of Assurant during the 3rd quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Assurant during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its stake in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after buying an additional 103 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other 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.