Assurant (NYSE:AIZ – Get Rating ) Equities research analysts at Morgan Stanley cut their price target on the stock from $215.00 to $165.00 in a report released on Monday, Stock Target Advisors reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 31.24% from the company’s current price.
Several other brokerages also recently commented on AIZ. StockNews.com began coverage on Assurant in a research note on Wednesday, October 12th. He sets a “hold” rating on the stock. Keefe, Bruyette & Woods lowered Assurant from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $199.00 to $151.00 in a research report on Thursday, November 3rd. TheStreet lowered Assurant from a “b-” rating to a “c+” rating in a research report on Wednesday, November 2nd. Finally, Truist Financial dropped their target price on Assurant from $220.00 to $170.00 in a research report on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Assurant has an average rating of “Hold” and a consensus price target of $170.20, according to data from MarketBeat.com.
Assurant stock up 0.6%
Shares of AIZ traded up $0.77 during midday trading on Monday, hitting $125.72. 3,960 shares of the company exchanged hands, compared to its average volume of 488,093. The stock has a 50-day moving average price of $142.41 and a 200-day moving average price of $161.46. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 0.72 and a beta of 0.52. Assurant has a 1-year low of $119.01 and a 1-year high of $194.12. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.
Institutional Business of the Assurant
Hedge funds and other institutional investors have also recently bought and sold shares of the company. Tcwp LLC purchased a new stake in Assurant during the first quarter valued at approximately $27,000. acquired a new position in CX Institutional Assurant during the second quarter valued at approximately $28,000. Ronald Blue Trust Inc. acquired a new position in Assurant during the second quarter valued at about $31,000. Parkside Financial Bank & Trust boosted its stake in Assurant by 353.8% in the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in Assurant during the second quarter valued at about $35,000. 84.67% of shares are owned by institutional investors.
Details of the Assurant Company
Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect and connect consumer purchases in North America, Latin America, Europe and Asia Pacific. The company operates through two divisions: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions and extended service products and services related to mobile devices, consumer electronics and appliances; vehicle maintenance and related services; and credit protection and other insurance products.
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