Assurant, Inc. (AIZ)
Financial Services · NYQ · US
Fundamentals
Valuation and ratings
Assurant, Inc. trades at USD275.44, which is 121% below the USD609.36 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 44 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 14.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Assurant, Inc.
Assurant, Inc. provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific. It operates through Global Lifestyle and Global Housing segments. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment protection, and other related services. The Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and other products; and voluntary manufactured housing, and condominium and homeowners insurance products. The company was formerly known as Fortis, Inc. and changed its name to Assurant, Inc. in February 2004. Assurant, Inc. was founded in 1892 and is headquartered in Atlanta, Georgia.
AIZ passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Lyrical Asset Management, LYRICAL ASSET MANAGEMENT LP$133.32M · 2.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$56.53M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$46.19M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$34.61M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$22.02M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Assurant, Inc. (AIZ) undervalued?
Against our discounted cash flow estimate of USD609.36, AIZ at USD275.44 is 121% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own AIZ?
12 of the institutions we track reported a position in AIZ in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is AIZ's P/E ratio?
AIZ trades at 14.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.