Assurant (NYSE:AIZ) PT Lowered to $152.00

Assurant (NYSE:AIZ) had its target price trimmed by UBS Group from $154.00 to $152.00 in a report published on Wednesday morning, Stock Target Advisor reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Morgan Stanley boosted their price objective on Assurant from $119.00 to $130.00 and gave the company an overweight rating in a research note on Thursday, August 15th. SunTrust Banks boosted their price objective on Assurant from $140.00 to $145.00 and gave the company a buy rating in a research note on Thursday, October 3rd.

Shares of NYSE:AIZ opened at $130.07 on Wednesday. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 22.43 and a beta of 0.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. The business’s 50-day moving average is $126.00 and its 200-day moving average is $113.54. Assurant has a 1 year low of $82.31 and a 1 year high of $131.04.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.69. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.56 billion. Assurant had a return on equity of 8.18% and a net margin of 2.76%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Analysts anticipate that Assurant will post 8.74 EPS for the current year.

In related news, EVP Michael P. Campbell sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $124.26, for a total transaction of $683,430.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Gene Mergelmeyer sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $124.24, for a total value of $1,863,600.00. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. raised its stake in Assurant by 11.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 874 shares of the financial services provider’s stock worth $110,000 after buying an additional 93 shares during the period. Oakbrook Investments LLC raised its stake in shares of Assurant by 1.8% in the second quarter. Oakbrook Investments LLC now owns 6,086 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 105 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Assurant by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 2,767 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 105 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in shares of Assurant by 0.7% in the second quarter. Pittenger & Anderson Inc. now owns 18,420 shares of the financial services provider’s stock worth $1,960,000 after purchasing an additional 120 shares during the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Assurant by 2.9% in the second quarter. Norinchukin Bank The now owns 4,243 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 121 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Assurant Company Profile

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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