Assurant (NYSE:AIZ) Price Target Raised to $280.00 at Truist Financial

Assurant (NYSE:AIZ) had its target price boosted by equities researchers at Truist Financial from $265.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 27.80% from the stock’s previous close.

A number of other research analysts have also recently issued reports on AIZ. Piper Sandler boosted their target price on Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Morgan Stanley raised their target price on shares of Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Zacks Research downgraded shares of Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their price objective on Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $258.17.

Assurant Trading Up 1.4%

NYSE:AIZ traded up $3.08 during mid-day trading on Thursday, hitting $219.09. The company had a trading volume of 46,840 shares, compared to its average volume of 364,796. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant has a fifty-two week low of $174.97 and a fifty-two week high of $246.31. The firm has a market cap of $10.97 billion, a P/E ratio of 12.95 and a beta of 0.56. The business’s fifty day moving average is $235.82 and its two-hundred day moving average is $221.47.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.96%. Assurant’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company posted $4.79 EPS. As a group, research analysts expect that Assurant will post 16.88 earnings per share for the current year.

Hedge Funds Weigh In On Assurant

Several institutional investors and hedge funds have recently modified their holdings of AIZ. Ascent Group LLC raised its holdings in Assurant by 0.8% in the fourth quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock worth $1,286,000 after buying an additional 43 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Assurant by 0.3% in the 4th quarter. ProShare Advisors LLC now owns 17,064 shares of the financial services provider’s stock worth $4,110,000 after purchasing an additional 47 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Assurant by 0.3% in the third quarter. Illinois Municipal Retirement Fund now owns 15,917 shares of the financial services provider’s stock worth $3,448,000 after purchasing an additional 48 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Assurant by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 49 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after buying an additional 53 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

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.