Assurant (NYSE:AIZ) Given New $230.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has increased its price target for Assurant from $218.00 to $230.00, indicating an expected upside of 8.08% from the current price.
• Assurant recently reported earnings per share of $5.56 for the last quarter, surpassing analyst estimates of $4.43 and showing a year-over-year revenue increase of 8.0%.
• With multiple analysts upgrading their ratings, the average target price for Assurant's stock is currently $233.29, with a consensus rating of "Moderate Buy."

Assurant (NYSE:AIZ - Get Free Report) had its price target boosted by equities research analysts at Morgan Stanley from $218.00 to $230.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target would suggest a potential upside of 8.08% from the company's current price.

Several other equities analysts also recently commented on AIZ. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. BMO Capital Markets assumed coverage on Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. Finally, Benchmark began coverage on Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

Assurant Stock Down 0.1%

AIZ stock opened at $212.81 on Monday. Assurant has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 15.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The business's 50-day moving average is $194.56 and its two-hundred day moving average is $198.96.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $4.77 earnings per share. Assurant's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts forecast that Assurant will post 16.88 earnings per share for the current year.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the sale, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the sale, the chief accounting officer owned 3,135 shares of the company's stock, valued at approximately $642,549.60. This represents a 23.26% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in Assurant in the 1st quarter worth $26,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Assurant during the second quarter worth about $27,000. Alpine Bank Wealth Management acquired a new position in Assurant in the 1st quarter worth approximately $28,000. REAP Financial Group LLC raised its position in Assurant by 193.9% during the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider's stock worth $29,000 after buying an additional 95 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Assurant by 1,133.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 136 shares during the period. Institutional investors own 92.65% of the company's stock.

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.

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