Assurant (NYSE:AIZ) had its price objective increased by investment analysts at Morgan Stanley from $119.00 to $130.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 7.82% from the stock’s current price.
Separately, UBS Group increased their target price on shares of Assurant to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. They noted that the move was a valuation call.
Assurant stock traded up $0.15 during mid-day trading on Thursday, hitting $120.57. 100,090 shares of the company’s stock were exchanged, compared to its average volume of 485,516. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.47 and a current ratio of 0.35. The firm has a market capitalization of $7.38 billion, a PE ratio of 20.79 and a beta of 0.54. Assurant has a 1-year low of $82.31 and a 1-year high of $122.91. The business has a 50 day moving average price of $112.15.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.21. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.35 billion. Assurant had a net margin of 4.00% and a return on equity of 7.58%. The business’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 earnings per share. Analysts expect that Assurant will post 8.61 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Assurant by 9.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,863,690 shares of the financial services provider’s stock worth $623,779,000 after buying an additional 522,617 shares during the last quarter. BlackRock Inc. increased its position in Assurant by 2.8% during the second quarter. BlackRock Inc. now owns 4,133,317 shares of the financial services provider’s stock worth $439,702,000 after buying an additional 111,409 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Assurant by 23.0% during the second quarter. Bank of New York Mellon Corp now owns 2,025,236 shares of the financial services provider’s stock valued at $215,444,000 after acquiring an additional 378,629 shares during the period. Renaissance Technologies LLC boosted its holdings in Assurant by 151.1% during the second quarter. Renaissance Technologies LLC now owns 1,050,000 shares of the financial services provider’s stock valued at $111,699,000 after acquiring an additional 631,900 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Assurant by 42.0% during the first quarter. Neuberger Berman Group LLC now owns 843,392 shares of the financial services provider’s stock valued at $80,046,000 after acquiring an additional 249,325 shares during the period. 90.53% of the stock is currently owned by hedge funds and other institutional investors.
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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