Assurant (NYSE:AIZ) EVP Sells $503,540.00 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Jay Rosenblum sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $251.77, for a total transaction of $503,540.00. Following the completion of the transaction, the executive vice president directly owned 12,764 shares in the company, valued at $3,213,592.28. The trade was a 13.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Assurant Trading Up 0.6%

NYSE:AIZ traded up $1.54 on Friday, reaching $254.26. 481,597 shares of the company’s stock were exchanged, compared to its average volume of 405,357. The business has a fifty day moving average of $225.02 and a 200-day moving average of $228.02. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 52-week low of $183.39 and a 52-week high of $257.17. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 13.01 and a beta of 0.56.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating 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 firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the business posted $5.79 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts expect that Assurant, Inc. will post 20.87 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AIZ shares. Piper Sandler upped their target price on shares of Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial upped their target price on shares of Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $240.00 to $285.00 in a research note on Thursday. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, BMO Capital Markets decreased their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $272.17.

Institutional Trading of Assurant

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. purchased a new position in Assurant in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased 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 valued at $32,000 after purchasing an additional 59 shares during the last quarter. Finally, BOKF NA purchased a new position in Assurant in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

More Assurant News

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight from Equal Weight and raised its price target to $285 from $240, signaling more upside potential. Morgan Stanley upgrades Assurant (AIZ)
• Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst momentum around the stock. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
• Positive Sentiment: BMO Capital also reiterated a Buy rating, reinforcing confidence in Assurant’s earnings power and growth outlook. Assurant (AIZ) Receives a Buy from BMO Capital
• Positive Sentiment: Analysts and commentary highlighted Assurant’s record quarter and underlying business strength, which supports the recent share-price strength. Assurant Signals Underlying Strength In Record Quarter
• Neutral Sentiment: Additional coverage is focused on valuation and post-earnings analysis, suggesting the market is evaluating whether recent gains are justified by Assurant’s growth outlook. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook

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.