Assurant (NYSE:AIZ) had its target price lifted by Morgan Stanley from $130.00 to $137.00 in a report issued on Friday morning, Stock Target Advisor reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently commented on AIZ. SunTrust Banks increased their price target on Assurant from $140.00 to $145.00 and gave the company a buy rating in a research report on Thursday, October 3rd. UBS Group reduced their price target on Assurant from $154.00 to $152.00 and set a buy rating for the company in a research report on Wednesday.

NYSE AIZ traded up $2.59 during trading hours on Friday, hitting $130.07. 638,397 shares of the company traded hands, compared to its average volume of 556,873. The business’s 50-day moving average is $126.00 and its 200-day moving average is $113.54. Assurant has a twelve month low of $82.31 and a twelve month 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 stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 22.43 and a beta of 0.47.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.69 EPS for the quarter, meeting the consensus estimate of $1.69. Assurant had a return on equity of 8.18% and a net margin of 2.76%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. 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 the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $124.26, for a total value of $683,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gene Mergelmeyer sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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. Company insiders own 0.68% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Assurant by 35.7% in the second quarter. Envestnet Asset Management Inc. now owns 10,071 shares of the financial services provider’s stock valued at $1,071,000 after buying an additional 2,649 shares during the last quarter. Crestline Management LP acquired a new stake in shares of Assurant in the second quarter valued at approximately $1,563,000. Holocene Advisors LP lifted its position in shares of Assurant by 78.5% in the second quarter. Holocene Advisors LP now owns 5,451 shares of the financial services provider’s stock valued at $580,000 after buying an additional 2,398 shares during the last quarter. KBC Group NV lifted its position in shares of Assurant by 1,476.5% in the second quarter. KBC Group NV now owns 61,498 shares of the financial services provider’s stock valued at $6,543,000 after buying an additional 57,597 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Assurant by 41.8% in the second quarter. Westwood Holdings Group Inc. now owns 267,140 shares of the financial services provider’s stock valued at $28,422,000 after buying an additional 78,793 shares during the last quarter. 91.76% 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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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