The stock of Assurant, Inc. (NYSE:AIZ) hit a new 52-week high and has $114.24 target or 24.00% above today’s $92.13 share price. The 7 months bullish chart indicates low risk for the $5.53 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $114.24 price target is reached, the company will be worth $1.33 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 99,757 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 $82.83M for 16.69 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. $105 is the highest target while $70 is the lowest. The $83.25 average target is -9.64% below today’s ($92.13) stock price. Assurant has been the topic of 6 analyst reports since July 30, 2015 according to StockzIntelligence Inc. On Monday, August 3 the stock rating was upgraded by Bank of America to “Buy”. The company was upgraded on Thursday, July 30 by SunTrust. Jefferies maintained Assurant, Inc. (NYSE:AIZ) rating on Friday, August 14. Jefferies has “Hold” rating and $70 price target. On Wednesday, October 21 the stock rating was maintained by Piper Jaffray with “Neutral”.
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 sales for $1.60 million net activity.
More recent Assurant, Inc. (NYSE:AIZ) news were published by: Fool.com which released: “Why Assurant Inc. Shares Aren’t Reassuring Shareholders on Wednesday” on February 10, 2016. Also Seekingalpha.com published the news titled: “Assurant: Reinventing Itself, 22% Upside” on September 28, 2016. Twst.com‘s news article titled: “Assurant Inc.: Assurant Partners with GamaSec to Protect Website Owners from …” with publication date: September 26, 2016 was also an interesting one.
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