Citi Adds Assurant (AIZ) to 'Top Picks Live' List, Removes Aon Corp (AOC)
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Citi maintains 'Buy' rating on Assurant Inc (NYSE: AIZ), adds stock to Top Picks Live list - removes Aon Corp (NYSE: AOC).
Citi analyst says, "While we continue to recommend Aon as the premiere insurance broker, we believe the recent pullback in AIZ shares offers a significant opportunity to own a high quality franchise at a steep discount. AIZ's collection of niche businesses, along with the redeployment of excess capital, should continue to support a top quartile ROE...The recent selloff was driven by 3 factors: 1) relative valuation gap; 2) lack of a 2Q beat; and 3) Fortis selling remaining 4.1M shares."
Assurant, Inc. (Assurant) is a holding company. Through its subsidiaries, the Company provides specialized insurance products and related services in North America and selected international markets.
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