Assurant (NYSE:AIZ) PT Raised to $137.00 at Morgan Stanley

Assurant (NYSE:AIZ) had its price objective hoisted by investment analysts at Morgan Stanley from $130.00 to $137.00 in a note issued to investors on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 5.33% from the company’s previous close.

Other research analysts also recently issued research reports about the company. SunTrust Banks lifted their price target on Assurant from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group cut their price target on Assurant from $154.00 to $152.00 and set a “buy” rating for the company in a research note on Wednesday.

Assurant stock opened at $130.07 on Friday. Assurant has a one year low of $82.31 and a one year high of $131.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. The business has a fifty day moving average of $126.00 and a two-hundred day moving average of $113.54. The company has a market cap of $7.71 billion, a P/E ratio of 22.43 and a beta of 0.47.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 5th. The financial services provider reported $1.69 EPS for the quarter, meeting analysts’ consensus estimates of $1.69. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.56 billion. Assurant had a return on equity of 8.18% and a net margin of 2.76%. Assurant’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. Sell-side analysts predict that Assurant will post 8.74 EPS for the current year.

In other news, EVP Michael P. Campbell sold 5,500 shares of Assurant stock in a transaction on Monday, August 19th. The stock was sold at an average price of $124.26, for a total transaction of $683,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gene Mergelmeyer sold 15,000 shares of Assurant stock in a transaction on Monday, August 19th. The stock was sold at an average price of $124.24, for a total value of $1,863,600.00. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Assurant by 9.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,863,690 shares of the financial services provider’s stock valued at $623,779,000 after purchasing an additional 522,617 shares during the last quarter. BlackRock Inc. raised its stake in Assurant by 2.8% in the 2nd quarter. BlackRock Inc. now owns 4,133,317 shares of the financial services provider’s stock valued at $439,702,000 after purchasing an additional 111,409 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Assurant by 23.0% in the 2nd 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 purchasing an additional 378,629 shares during the last quarter. Renaissance Technologies LLC raised its stake in Assurant by 151.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,050,000 shares of the financial services provider’s stock valued at $111,699,000 after purchasing an additional 631,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Assurant by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 925,470 shares of the financial services provider’s stock valued at $116,442,000 after purchasing an additional 26,747 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

About Assurant

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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