Assurant (NYSE:AIZ) PT Lowered to $131.00 at Morgan Stanley

Assurant (NYSE:AIZ) had its price objective cut by Morgan Stanley from $151.00 to $131.00 in a report published on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. ValuEngine raised Assurant from a sell rating to a hold rating in a research note on Wednesday, March 18th. UBS Group upped their price objective on Assurant from $152.00 to $158.00 and gave the stock a buy rating in a research note on Wednesday, February 19th.

NYSE:AIZ traded down $1.31 during mid-day trading on Wednesday, hitting $98.75. 288,327 shares of the company traded hands, compared to its average volume of 679,075. The stock’s fifty day moving average price is $116.32 and its 200-day moving average price is $126.30. Assurant has a one year low of $76.27 and a one year high of $142.61. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.35. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 17.17 and a beta of 0.66.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by ($0.14). Assurant had a net margin of 3.75% and a return on equity of 9.51%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $0.77 EPS. Equities analysts predict that Assurant will post 9.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, February 24th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, February 21st. Assurant’s dividend payout ratio (DPR) is 29.47%.

Several large investors have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Assurant by 5.6% in the third quarter. State Street Corp now owns 3,125,755 shares of the financial services provider’s stock worth $393,282,000 after buying an additional 164,654 shares in the last quarter. FMR LLC lifted its position in shares of Assurant by 4.5% in the fourth quarter. FMR LLC now owns 1,207,360 shares of the financial services provider’s stock worth $158,260,000 after buying an additional 52,466 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Assurant by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 984,786 shares of the financial services provider’s stock worth $128,835,000 after buying an additional 34,375 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Assurant by 5.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 973,193 shares of the financial services provider’s stock worth $127,566,000 after buying an additional 47,723 shares in the last quarter. Finally, Samlyn Capital LLC lifted its position in shares of Assurant by 9.1% in the fourth quarter. Samlyn Capital LLC now owns 929,426 shares of the financial services provider’s stock worth $121,829,000 after buying an additional 77,616 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.

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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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