UBS Group Trims Assurant (AIZ) Target Price to $124.00

Assurant (NYSE:AIZ) had its price target cut by UBS Group to $124.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price target indicates a potential upside of 26.27% from the stock’s previous close.

Separately, ValuEngine lowered Assurant from a “buy” rating to a “hold” rating in a report on Friday, November 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $125.75.

Shares of NYSE AIZ opened at $98.20 on Friday. Assurant has a 12 month low of $82.31 and a 12 month high of $111.43. The company has a quick ratio of 0.35, a current ratio of 0.47 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.25 billion, a PE ratio of 16.93 and a beta of 0.65.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 12th. The financial services provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.31. Assurant had a return on equity of 6.92% and a net margin of 3.06%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Assurant’s revenue was up 38.2% on a year-over-year basis. Sell-side analysts anticipate that Assurant will post 8.54 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bremer Trust National Association purchased a new position in shares of Assurant during the fourth quarter worth about $42,000. Captrust Financial Advisors boosted its stake in Assurant by 163.6% in the fourth quarter. Captrust Financial Advisors now owns 543 shares of the financial services provider’s stock worth $49,000 after buying an additional 337 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in Assurant by 59.6% in the fourth quarter. CSat Investment Advisory L.P. now owns 581 shares of the financial services provider’s stock worth $52,000 after buying an additional 217 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in Assurant in the fourth quarter worth approximately $57,000. Finally, Doyle Wealth Management purchased a new stake in Assurant in the fourth quarter worth approximately $59,000. 91.32% of the stock is owned by institutional investors.

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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

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