Zacks Investment Research downgraded shares of Assurant Inc. (AIZ) from OUTPERFORM to NEUTRAL on September 25, 2013, with a target price of $57.00.
We are downgrading our recommendation on the shares of Assurant Inc. to Neutral from Outperform as we expect specialty property earnings to decline due to regulator-mandated price cuts and lower placement rates. We also expect depressed results from the company's employee benefits line of business, which remains pressured by the sluggish economy. In addition, we feel that healthcare reform has weakened the earnings of the company's health business. We are, however, positive on the solutions business, and expect results to benefit from recent sales momentum and cost cuts. A strong balance sheet and a disciplined capital management strategy via share repurchases will aid the company's bottom line earnings over the near term.
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