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

Key Points

• Assurant has a consensus analyst rating of “Moderate Buy”, with nine buy ratings and one hold among the ten firms covering the stock. The average 12-month price target is about $272.17.
• Several analysts recently turned more bullish, including Morgan Stanley upgrading the stock to Overweight and raising its target to $285. UBS, Piper Sandler, and KBW also lifted price targets or reiterated positive ratings.
• The company reported strong Q1 results, beating EPS and revenue estimates with $5.95 EPS on $3.42 billion in revenue, and revenue rose 11.3% year over year. Despite the positive backdrop, insiders have recently sold shares, including EVP Jay Rosenblum.

Shares of Assurant, Inc. (NYSE:AIZ - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $272.1667.

Several equities analysts recently issued reports on AIZ shares. Morgan Stanley upgraded Assurant from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $240.00 to $285.00 in a research note on Thursday. UBS Group boosted their price target on Assurant from $270.00 to $274.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Piper Sandler boosted their price target on Assurant from $264.00 to $268.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. BMO Capital Markets lowered their price target on Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods boosted their price target on Assurant from $258.00 to $270.00 and gave the company an "outperform" rating in a research note on Wednesday.

Trending Headlines about Assurant

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 Trading Up 0.6%

Assurant stock opened at $254.26 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The business's 50-day simple moving average is $225.47 and its 200-day simple moving average is $228.21. The firm has a market capitalization of $12.60 billion, a PE ratio of 13.01 and a beta of 0.56. Assurant has a 52 week low of $183.39 and a 52 week high of $257.17.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping analysts' consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the company posted $5.79 earnings per share. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts forecast that Assurant will post 21.01 earnings per share for the current year.

Insider Activity at Assurant

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the sale, the executive vice president directly owned 2,895 shares of the company's stock, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total value of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares in the company, valued at $3,213,592.28. The trade was a 13.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,650 shares of company stock worth $1,061,871 over the last three months. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in Assurant by 83.7% during the first quarter. Quantinno Capital Management LP now owns 74,826 shares of the financial services provider's stock valued at $16,298,000 after purchasing an additional 34,103 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Assurant by 130.6% during the first quarter. Lazard Asset Management LLC now owns 43,809 shares of the financial services provider's stock valued at $9,542,000 after purchasing an additional 24,815 shares in the last quarter. Gateway Wealth Partners LLC acquired a new stake in Assurant during the first quarter valued at approximately $251,000. Waverly Advisors LLC acquired a new stake in Assurant during the first quarter valued at approximately $340,000. Finally, Compound Planning Inc. boosted its holdings in Assurant by 6.9% during the first quarter. Compound Planning Inc. now owns 1,733 shares of the financial services provider's stock valued at $377,000 after purchasing an additional 112 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.

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