Morgan Stanley Maintains Equal Weight Rating on Assurant (AIZ)

Assurant Inc. (NYSE:AIZ) is one of the 7 best property & casualty insurance stocks to buy right now.

As of the April 6 closing, consensus sentiment for Assurant Inc. (NYSE:AIZ) remained strongly bullish. The stock received coverage from 5 analysts, 4 of whom assigned Buy ratings and 1 gave a Hold call. With no Sell rating, it has a projected median 1-year price target of $250.67, which results in an upside potential of almost 15%.

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On April 6, Morgan Stanley reiterated its Equal Weight rating on Assurant Inc. (NYSE:AIZ). The firm, however, reduced the target price on the stock from $248 to $240, which leads to a revised upside potential of more than 10%. The rating follows Morgan Stanley’s broader adjustments across the property and casualty insurance segment, based on the first-quarter earnings preview.

The firm expects persistently soft pricing trends to offset impressive underwriting witnessed across the segment. For personal lines, the firm carries a negative sentiment, whereas for reinsurers, it expects continued stability.

On March 24, Total Wireless, a subsidiary of Verizon Communications Inc., launched Total Wireless Protect+ in collaboration with Assurant Inc. (NYSE:AIZ). The protection plan will be offered through the digital storefront at TotalWireless.com, and includes coverage for device repair, device damage/theft, and malfunction (both mechanical and electronic).

Assurant Inc. (NYSE:AIZ) delivers protection and support services to connected devices, homes, and automobiles. It offers mobile device protection, financial services, insurance products, vehicle protection, and other related services. The company also engages with leading brands for device lifecycle management and property technology solutions.

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