Assurant, Inc. (AIZ) Stock Analysis – September 22, 2024
Company Overview
Assurant, Inc. (AIZ) stands as a formidable player in the financial services sector, particularly in the insurance arena, specializing in Property & Casualty. Based in Atlanta, Georgia, Assurant offers comprehensive insurance solutions protecting consumer purchases across North America, Latin America, Europe, and the Asia Pacific. Founded in 1892, Assurant has evolved from its original branding as Fortis, Inc. in 2004 to become a leader in the industry. The company operates through two main segments: Global Lifestyle, which delivers mobile device solutions and extended service contracts, and Global Housing, offering a variety of insurance products including homeowners, renters, and flood insurance.
Financial Performance and Analyst Outlook
Assurant showcases robust financial health, with total revenue reaching approximately $11.56 billion. This substantial figure reflects the company’s strong market presence and operational capacity. As of now, AIZ is trading at $194.27, with a favorable recommendation from analysts categorized as a “buy.” The target high price set at $228.00 indicates confidence in the stock’s growth potential, while the target mean price stands at $211.80, showing a balanced expectation among market experts. Additionally, the asset is nearing its fifty-two week high of $199.50, suggesting a bullish sentiment prevailing among investors.
Analysts emphasize a positive trajectory for the stock’s future performance, supported by a commendable recommendation mean score of 2.1 from multiple analysts. Assurant’s commendable equity structure consists of approximately 51.79 million shares outstanding, with a low short interest of around 0.0189%. This suggests that the market maintains a cautious yet optimistic view of Assurant’s performance stability in the competitive insurance space.
Market Indicators and Future Prospects
Assurant’s financial indicators present a healthy upward momentum. The stock has been trading above its fifty-day moving average of $183.20, and its proximity to the fifty-two week high highlights the company’s earning potential. The fifty-two week low of $141.83 marks significant growth, reflecting the stock’s ability to outperform its previous lows amid market fluctuations. As the company navigates future challenges and opportunities, its solid revenue foundation, coupled with favorable analyst projections, positions Assurant, Inc. as a promising investment within the financial services industry.
| Metric | Value |
|---|---|
| Market Cap | $10.1b |
| Total Debt | $2.1b |
| Total Cash | $2.0b |
| Shares Outstanding | 51.8m |
| Float Shares | 51.5m |
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