Assurant, Inc. (NYSE:AIZ) Receives Average Rating of "Moderate Buy" from Analysts

Assurant, Inc. (NYSE:AIZ - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $234.17.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target for the company in a research note on Thursday, April 10th. Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th.

Insiders Place Their Bets

In other news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Assurant

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Assurant by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock worth $708,016,000 after purchasing an additional 891,292 shares in the last quarter. Norges Bank purchased a new stake in Assurant during the fourth quarter worth approximately $143,475,000. Millennium Management LLC grew its stake in Assurant by 1,499.1% during the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock worth $73,375,000 after buying an additional 322,608 shares during the period. GAMMA Investing LLC grew its stake in Assurant by 20,818.1% during the first quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider's stock worth $646,290,000 after buying an additional 306,650 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Assurant during the fourth quarter worth approximately $34,365,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Up 2.2%

Shares of Assurant stock traded up $4.29 during trading hours on Wednesday, hitting $200.00. The company had a trading volume of 27,753 shares, compared to its average volume of 385,341. The company's 50-day moving average is $198.62 and its two-hundred day moving average is $206.88. Assurant has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $10.17 billion, a P/E ratio of 13.80 and a beta of 0.59.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the prior year, the business posted $4.78 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Analysts anticipate that Assurant will post 16.88 earnings per share for the current fiscal year.

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.