Assurant (NYSE:AIZ) Sets New 12-Month High – Time to Buy?

Assurant, Inc. (NYSE:AIZ)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $247.42 and last traded at $241.7660, with a volume of 10984 shares traded. The stock had previously closed at $239.67.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIZ. Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial upped their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley reduced their price target on shares of Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Piper Sandler raised their price objective on Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, BMO Capital Markets lowered their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Assurant Stock Down 0.5%

The company has a market capitalization of $12.07 billion, a PE ratio of 12.44 and a beta of 0.56. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $224.17 and a 200 day moving average of $227.28.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the firm earned $5.79 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Assurant, Inc. will post 20.93 EPS for the current year.

Insider Buying and Selling

In other news, EVP Subhashish Sengupta sold 1,880 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the sale, the executive vice president owned 2,895 shares of the company’s stock, valued at approximately $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the sale, the chief accounting officer owned 4,741 shares in the company, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,650 shares of company stock worth $558,331. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assurant

Several large investors have recently bought and sold shares of AIZ. Versant Capital Management Inc grew its position in shares of Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. acquired a new stake in Assurant in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its stake in Assurant by 65.6% in the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 59 shares during the last quarter. Finally, BOKF NA purchased a new position in Assurant in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.