Assurant (NYSE:AIZ) Given New $235.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Assurant's price target was raised by Keefe, Bruyette & Woods from $225 to $235, indicating a potential upside of 12.92% from the current price.
• Assurant reported $5.56 EPS for the last quarter, exceeding estimates, with a revenue of $3.16 billion, marking an 8% increase from the previous year.
• The company received multiple upgrades from brokerages, with a consensus rating of "Moderate Buy" and a target price of $231.57.

Assurant (NYSE:AIZ - Get Free Report) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $225.00 to $235.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 12.92% from the company's current price.

Several other brokerages have also commented on AIZ. Morgan Stanley boosted their target price on shares of Assurant from $217.00 to $218.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. BMO Capital Markets assumed coverage on shares of Assurant in a research report on Tuesday. They set an "outperform" rating and a $238.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.57.

Assurant Stock Performance

Shares of Assurant stock traded up $2.40 during trading hours on Tuesday, hitting $208.11. 21,389 shares of the company were exchanged, compared to its average volume of 488,462. Assurant has a 1 year low of $174.97 and a 1 year high of $230.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $193.89 and a 200-day moving average of $199.08. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 15.06 and a beta of 0.58.

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

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president owned 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Assurant by 3.9% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider's stock valued at $302,000 after buying an additional 58 shares in the last quarter. Hartford Investment Management Co. increased its position in Assurant by 1.3% during the 2nd quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider's stock worth $900,000 after purchasing an additional 60 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Assurant by 47.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 61 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in Assurant by 14.0% in the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

About Assurant

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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