Assurant (NYSE:AIZ) Stock Price Target Raised at Morgan Stanley

Key Points

• Morgan Stanley raised Assurant’s price target from $300 to $330 and maintained an “overweight” rating, implying 4.81% upside from the price cited in the report.
• Analyst sentiment is broadly positive: Assurant has an average “Buy” rating and a consensus price target of $335.29, with other firms also lifting targets.
• Assurant reported quarterly EPS of $6.15, beating the $4.75 consensus estimate, while revenue rose 9.2% year over year to $3.53 billion.

Assurant (NYSE:AIZ - Get Free Report) had its price objective lifted by analysts at Morgan Stanley from $300.00 to $330.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's price objective points to a potential upside of 4.81% from the stock's current price.

Several other research firms also recently weighed in on AIZ. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $325.00 to $345.00 and gave the stock an "outperform" rating in a report on Thursday. UBS Group raised their target price on shares of Assurant from $274.00 to $331.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial upped their price target on shares of Assurant from $310.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets increased their price objective on shares of Assurant from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $335.29.

Assurant Stock Performance

Shares of NYSE AIZ traded up $7.86 during midday trading on Monday, hitting $314.86. 110,558 shares of the company's stock were exchanged, compared to its average volume of 393,142. Assurant has a twelve month low of $209.86 and a twelve month high of $316.72. The firm has a market cap of $15.53 billion, a P/E ratio of 14.79 and a beta of 0.52. The stock's 50 day moving average price is $280.40 and its 200-day moving average price is $256.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.38 and a quick ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share for the quarter, beating the consensus estimate of $4.75 by $1.40. Assurant had a return on equity of 20.44% and a net margin of 7.80%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the business earned $5.73 EPS. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Assurant will post 22.99 EPS for the current year.

Institutional Trading of Assurant

A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. Latitude Advisors LLC bought a new position in Assurant during the third quarter valued at approximately $26,000. Independence Bank of Kentucky acquired a new stake in Assurant in the third quarter valued at approximately $26,000. First Bancorp Inc ME acquired a new stake in Assurant in the second quarter valued at approximately $31,000. Arlington Trust Co LLC grew its position in Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider's stock worth $34,000 after acquiring an additional 57 shares in the last quarter. Finally, Transamerica Financial Advisors LLC bought a new stake in Assurant in the second quarter worth approximately $40,000. 92.65% of the stock is currently owned by institutional investors.

Assurant Company Profile

Assurant, Inc is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle.

Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.

The company serves customers and business partners in markets across North America, Latin America, Europe, and Asia-Pacific.

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