Assurant, Inc. (AIZ) Rating Reiterated by SunTrust Banks, Inc.
Assurant, Inc. (NYSE:AIZ)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They presently have a $115.00 target price on the financial services provider’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 19.85% from the stock’s current price. SunTrust Banks also issued estimates for Assurant’s Q4 2017 earnings at $1.72 EPS, Q1 2018 earnings at $1.85 EPS, Q3 2018 earnings at $1.43 EPS and FY2018 earnings at $7.05 EPS.
Separately, BidaskClub downgraded Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd.
Assurant (NYSE:AIZ) traded up 0.66% during mid-day trading on Thursday, reaching $95.95. 535,867 shares of the company traded hands. The company’s 50-day moving average is $94.53 and its 200-day moving average is $99.34. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 12.61 and a beta of 0.79. Assurant has a 12-month low of $78.50 and a 12-month high of $106.99.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 earnings per share. Equities analysts predict that Assurant will post $5.07 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Assurant in the second quarter worth $6,137,000. State of Tennessee Treasury Department increased its holdings in shares of Assurant by 59.9% during the second quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock valued at $24,899,000 after acquiring an additional 89,925 shares in the last quarter. Dearborn Partners LLC increased its holdings in shares of Assurant by 2.3% during the second quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock valued at $19,862,000 after acquiring an additional 4,242 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Assurant by 27.1% during the second quarter. State of Wisconsin Investment Board now owns 48,390 shares of the financial services provider’s stock valued at $5,018,000 after acquiring an additional 10,320 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Assurant by 1.1% during the second quarter. Legal & General Group Plc now owns 312,924 shares of the financial services provider’s stock valued at $32,449,000 after acquiring an additional 3,367 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
Assurant Company Profile
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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