Assurant (NYSE:AIZ) Given New $325.00 Price Target at Keefe, Bruyette & Woods

Assurant (NYSE:AIZ) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $310.00 to $325.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.80% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a research report on Wednesday, June 17th. Piper Sandler upped their price target on shares of Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings lowered shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Finally, UBS Group lifted their price objective on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.57.

Assurant Stock Down 1.8%

AIZ opened at $296.01 on Friday. The company has a market capitalization of $14.67 billion, a PE ratio of 14.14 and a beta of 0.55. The firm has a 50-day simple moving average of $269.87 and a two-hundred day simple moving average of $244.19. The company has a quick ratio of 0.39, a current ratio of 0.67 and a debt-to-equity ratio of 0.36. Assurant has a 52 week low of $200.62 and a 52 week high of $303.94.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $1.24. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.56 earnings per share. Analysts forecast that Assurant will post 21.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Keith Meier sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the sale, the executive vice president directly owned 18,552 shares in the company, valued at $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Lonergan sold 7,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the completion of the sale, the executive vice president directly owned 27,374 shares in the company, valued at approximately $7,191,423.54. This represents a 20.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 36,000 shares of company stock valued at $9,211,620 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Assurant

Institutional investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in shares of Assurant during the fourth quarter valued at approximately $28,000. Arlington Trust Co LLC raised its holdings in shares of Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after buying an additional 57 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant during the 2nd quarter worth approximately $27,000. Western Wealth Management LLC bought a new stake in shares of Assurant during the 1st quarter worth approximately $33,000. Finally, BOKF NA purchased a new position in Assurant during the 3rd quarter valued at $32,000. Institutional investors own 92.65% of the company’s stock.

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.