Assurant, Inc. (NYSE:AIZ) Given Average Rating of “Moderate Buy” by Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $272.1667.

Several brokerages have recently commented on AIZ. Keefe, Bruyette & Woods boosted their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets reduced their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Truist Financial boosted their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $285.00 in a report on Thursday. Finally, Piper Sandler boosted their target price on Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, May 11th.

Assurant Stock Up 0.6%

Shares of AIZ opened at $254.26 on Friday. The company has a market capitalization of $12.60 billion, a P/E ratio of 13.01 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. Assurant has a one year low of $183.39 and a one year high of $257.17. The business’s 50 day simple moving average is $225.47 and its 200-day simple moving average is $228.21.

Assurant (NYSE:AIZ) last announced 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 business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.Assurant’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.79 EPS. As a group, sell-side analysts predict that Assurant will post 21.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Subhashish Sengupta sold 1,880 shares of the business’s stock in a transaction that occurred on 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 owned 2,895 shares in the company, valued at $609,484.35. The trade was a 39.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the transaction, the chief accounting officer owned 4,741 shares of the company’s stock, valued at $1,000,256.18. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,650 shares of company stock worth $1,061,871 in the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AIZ. Jones Financial Companies Lllp raised its position in Assurant by 606.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 910 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock worth $60,987,000 after purchasing an additional 47,548 shares during the last quarter. United Services Automobile Association bought a new position in Assurant in the 1st quarter worth approximately $203,000. Focus Partners Wealth raised its position in Assurant by 66.6% in the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant News Roundup

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight and lifted its price target to $285, signaling confidence in further upside. Morgan Stanley upgrades Assurant (AIZ)
• Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst backdrop. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
• Positive Sentiment: BMO Capital also gave Assurant a Buy rating, reinforcing expectations for continued strength in the business. Assurant (AIZ) Receives a Buy from BMO Capital
• Neutral Sentiment: Analyst notes and earnings-call commentary are focusing attention on Assurant’s valuation and growth outlook after a strong quarter. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook
• Neutral Sentiment: Analysts are highlighting questions from Assurant’s Q1 earnings call, which may help investors gauge the durability of recent results. 5 Revealing Analyst Questions From Assurant’s Q1 Earnings Call
• Negative Sentiment: EVP Jay Rosenblum sold 2,000 shares at an average price of $251.77, a routine insider sale that may slightly temper sentiment. Insider sale filing

Assurant Company Profile

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.