Keefe, Bruyette & Woods Reducing Estimate On Assurant

According to Keefe, Bruyette & Woods, Assurant (NYSE: AIZ) identified long-term ROE targets for each business at investor day.

Keefe, Bruyette & Woods reported that, if AIZ hits these targets, there will eventually be upside to the current ROE. “Some of the targets strike us as ambitious, however, and as a result, it is difficult for us to argue with conviction that AIZ will definitely earn in excess of its cost of equity in the foreseeable future. Reducing 2011 estimate.”

Assurant closed yesterday at $38.48.