The stock of Assurant, Inc. (NYSE:AIZ) reached all time high today, Sep, 30 and still has $135.18 target or 47.00% above today’s $91.96 share price. This indicates more upside for the $5.52B company. This technical setup was reported by Barchart.com. If the $135.18 PT is reached, the company will be worth $2.59 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 35,999 shares traded hands. Assurant, Inc. (NYSE:AIZ) has risen 25.75% since February 26, 2016 and is uptrending. It has outperformed by 15.32% the S&P500.
Analysts await Assurant, Inc. (NYSE:AIZ) to report earnings on October, 25. They expect $1.38 earnings per share, down 19.30% or $0.33 from last year’s $1.71 per share. AIZ’s profit will be $82.84M for 16.66 P/E if the $1.38 EPS becomes a reality. After $1.42 actual earnings per share reported by Assurant, Inc. for the previous quarter, Wall Street now forecasts -2.82% negative EPS growth.
Assurant, Inc. (NYSE:AIZ) Ratings Coverage
Out of 6 analysts covering Assurant (NYSE:AIZ), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Assurant has been the topic of 6 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained Assurant, Inc. (NYSE:AIZ) on Wednesday, October 21 with “Neutral” rating. Bank of America upgraded the shares of AIZ in a report on Monday, August 3 to “Buy” rating. As per Friday, August 14, the company rating was maintained by Jefferies. The stock of Assurant, Inc. (NYSE:AIZ) earned “Buy” rating by SunTrust on Thursday, July 30.
According to Zacks Investment Research, “Assurant Solutions offers a wide range of products that protect appliances, electronic devices, mobile phones and family finances through preneed insurance.”
Insitutional Activity: The institutional sentiment decreased to 0.8 in 2016 Q2. Its down 0.03, from 0.83 in 2016Q1. The ratio dropped, as 25 funds sold all Assurant, Inc. shares owned while 150 reduced positions. 49 funds bought stakes while 91 increased positions. They now own 55.56 million shares or 13.45% less from 64.19 million shares in 2016Q1.
Lyrical Asset Management Lp holds 3.17% of its portfolio in Assurant, Inc. for 1.76 million shares. Endeavour Capital Advisors Inc owns 355,210 shares or 2.29% of their US portfolio. Moreover, Cna Financial Corp has 1.98% invested in the company for 92,200 shares. The Illinois-based Dearborn Partners Llc has invested 1.44% in the stock. Altrinsic Global Advisors Llc, a Connecticut-based fund reported 412,279 shares.
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 4 selling transactions for $1.60 million net activity.
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