Assurant Inc. (AIZ) Now Covered by Analysts at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of Assurant Inc. (NYSE:AIZ) in a report published on Friday morning. The brokerage issued a neutral rating and a $93.00 price objective on the stock.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Assurant from a hold rating to a buy rating and set a $96.00 price objective on the stock in a report on Tuesday, June 21st. Goldman Sachs Group Inc. downgraded shares of Assurant to a buy rating and set a $95.00 price objective on the stock. in a report on Sunday, July 17th. JPMorgan Chase & Co. reissued a hold rating and issued a $77.00 price objective on shares of Assurant in a report on Wednesday, July 6th. Finally, DOWLING & PARTN reissued a neutral rating on shares of Assurant in a report on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $91.00.
Assurant (NYSE:AIZ) traded up 0.86% during trading on Friday, reaching $90.70. 79,674 shares of the company’s stock were exchanged. The company has a market cap of $5.46 billion, a P/E ratio of 13.39 and a beta of 0.76. The stock’s 50-day moving average is $89.42 and its 200-day moving average is $85.48. Assurant has a 12-month low of $64.36 and a 12-month high of $92.63.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. The business earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Assurant had a return on equity of 8.08% and a net margin of 4.97%. The business’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Analysts predict that Assurant will post $5.90 EPS for the current fiscal year.
In related news, Director Robert W. Stein sold 2,500 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $84.01, for a total value of $210,025.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher J. Pagano sold 6,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $89.76, for a total transaction of $538,560.00. Following the completion of the sale, the executive vice president now owns 70,149 shares in the company, valued at approximately $6,296,574.24. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in AIZ. Wellington Management Group LLP raised its position in Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock valued at $120,471,000 after buying an additional 220,377 shares during the last quarter. Riverhead Capital Management LLC raised its position in Assurant by 59.3% in the first quarter. Riverhead Capital Management LLC now owns 95,959 shares of the company’s stock valued at $7,404,000 after buying an additional 35,738 shares during the last quarter. Altrinsic Global Advisors LLC purchased a new position in Assurant during the first quarter valued at approximately $32,674,000. AXA raised its position in Assurant by 4,046.0% in the first quarter. AXA now owns 122,308 shares of the company’s stock valued at $9,436,000 after buying an additional 119,358 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in Assurant by 48.9% in the first quarter. Rafferty Asset Management LLC now owns 8,961 shares of the company’s stock valued at $691,000 after buying an additional 2,944 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
Assurant Company Profile
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