Assurant (NYSE:AIZ) EVP Sells $6,357,750.00 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Keith Meier sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the sale, the executive vice president owned 18,552 shares in the company, valued at approximately $4,717,959.12. This represents a 57.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Assurant Price Performance

Shares of NYSE:AIZ opened at $256.09 on Thursday. The business’s fifty day moving average price is $227.49 and its two-hundred day moving average price is $229.32. The stock has a market cap of $12.69 billion, a PE ratio of 13.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. Assurant, Inc. has a one year low of $183.39 and a one year high of $260.96.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.Assurant’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.79 EPS. On average, analysts forecast that Assurant, Inc. will post 21.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIZ has been the topic of several research reports. Truist Financial increased their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Piper Sandler increased their target price on Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods increased their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $285.00 in a research report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.17.

Institutional Trading of Assurant

Several large investors have recently modified their holdings of AIZ. Jones Financial Companies Lllp grew its stake in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 910 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Assurant by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after acquiring an additional 47,548 shares in the last quarter. United Services Automobile Association acquired a new position in Assurant in the first quarter worth about $203,000. Focus Partners Wealth grew its stake in Assurant by 66.6% in the first quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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.