Citi Reiterates 'Buy' Rating on Assurant (AIZ)
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Citi reiterates a 'Buy' rating on Assurant Inc (NYSE: AIZ). Price target $80.
Citi analyst says, "Our Top Pick in Insurance Underwriters — AIZ's collection of niche businesses, along with the redeployment of excess capital, should continue to support a top quartile ROE...A top-notch management team — led by CEO Rob Pollock who is a key architect of the AIZ story. In our view, he has the rare skill of connecting with the Street and having detailed knowledge of all aspects of the company...Don't expect buybacks until after the SEC investigation into the Wells notice issue. Management is actively looking at M&A opportunities across all 4 businesses, and is clearly interested in CFC’s Balboa unit."
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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