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Atlanta, Georgia-based Assurant, Inc. (AIZ) provides protection services to connected devices, homes, and automobiles. Valued at $11.7 billion by market cap, the company offers mobile device solutions, extended service contracts, insurance products, vehicle protection, and housing-related coverage, including lender-placed, renters, and homeowners insurance.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and AIZ perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the insurance - property & casualty industry. New financial services programs boost Assurant’s mobile device protection and extended service contracts. The company's proactive risk management includes a comprehensive catastrophe reinsurance program that protects against significant losses and demonstrates strategic strength.
Despite its notable strength, AIZ shares touched their 52-week high of $236.74 in the last trading session. Over the past three months, AIZ stock has gained 13.6%, outperforming the Nasdaq Composite’s ($NASX) 3.5% gains during the same time frame.
In the longer term, shares of AIZ rose 16.7% on a six-month basis and climbed 7.4% over the past 52 weeks, underperforming NASX’s six-month gains of 17.3% and solid 14.6% returns over the last year.
To confirm the bullish trend, AIZ has been trading above its 50-day and 200-day moving averages since early August, with slight fluctuations.
On Nov. 4, AIZ shares closed up more than 1% after reporting its Q3 results. Its adjusted EPS of $5.73 exceeded Wall Street expectations of $4.23. The company’s revenue stood at $3.2 billion, up 8.9% year over year.
In the competitive arena of insurance - property & casualty, The Hartford Insurance Group, Inc. (HIG) has taken the lead over AIZ, showing resilience with 24.4% gains over the past 52 weeks, but lagged behind the stock with 9.5% returns on a six-month basis.
Wall Street analysts are reasonably bullish on AIZ’s prospects. The stock has a consensus “Moderate Buy” rating from the nine analysts covering it, and the mean price target of $253.67 suggests a potential upside of 8.7% from current price levels.
