ValuEngine Upgrades Assurant (AIZ) to “Hold”

Assurant (NYSE:AIZ) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts also recently issued reports on AIZ. UBS started coverage on Assurant in a research note on Friday, March 2nd. They issued a “buy” rating and a $127.00 price objective for the company. SunTrust Banks reduced their price objective on Assurant and set a “buy” rating for the company in a research note on Thursday, April 12th.

Assurant traded up $1.63, hitting $95.92, during mid-day trading on Friday, reports. The company’s stock had a trading volume of 878,800 shares, compared to its average volume of 561,894. The company has a market cap of $4.95 billion, a P/E ratio of 24.10, a P/E/G ratio of 0.64 and a beta of 0.55. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.45. Assurant has a 52-week low of $84.34 and a 52-week high of $106.99.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.25. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.59 billion. Assurant had a return on equity of 5.17% and a net margin of 7.41%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS. equities analysts forecast that Assurant will post 7.54 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AIZ. Cerebellum GP LLC purchased a new stake in Assurant in the 4th quarter worth about $128,000. Rampart Investment Management Company LLC increased its position in Assurant by 88.5% in the 1st quarter. Rampart Investment Management Company LLC now owns 1,431 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 672 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Assurant in the 1st quarter worth about $201,000. Ifrah Financial Services Inc. acquired a new position in Assurant in the 4th quarter worth about $204,000. Finally, Koch Industries Inc. acquired a new position in Assurant in the 4th quarter worth about $206,000. 93.55% of the stock is owned by hedge funds and other institutional investors.

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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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