Assurant (NYSE:AIZ) EVP Jay Rosenblum Sells 2,000 Shares

Assurant, Inc. (NYSE:AIZGet Free Report) EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the transaction, the executive vice president directly owned 12,764 shares in the company, valued at $3,213,592.28. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Assurant Price Performance

Shares of AIZ stock opened at $254.26 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s 50-day moving average is $225.47 and its two-hundred day moving average is $228.21. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $257.17. The company has a market capitalization of $12.60 billion, a PE ratio of 13.01 and a beta of 0.56.

Assurant (NYSE:AIZGet Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 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 the consensus estimate of $3.29 billion. During the same period in the previous year, the firm earned $5.79 earnings per share. Assurant’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts predict that Assurant, Inc. will post 20.87 earnings per share for the current year.

Institutional Investors Weigh In On Assurant

A number of institutional investors and hedge funds have recently made changes to their positions in AIZ. JPMorgan Chase & Co. increased its stake in Assurant by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock worth $27,076,000 after buying an additional 16,388 shares during the period. New York State Common Retirement Fund increased its stake in Assurant by 37.9% during the 3rd quarter. New York State Common Retirement Fund now owns 37,148 shares of the financial services provider’s stock worth $8,046,000 after buying an additional 10,200 shares during the period. GW&K Investment Management LLC increased its stake in Assurant by 25.6% during the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock worth $59,537,000 after buying an additional 56,009 shares during the period. Bank of New York Mellon Corp increased its stake in Assurant by 23.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock worth $1,085,247,000 after buying an additional 959,259 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Assurant by 16.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 185,949 shares of the financial services provider’s stock worth $44,786,000 after buying an additional 26,678 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AIZ. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $240.00 to $285.00 in a research note on Thursday. Truist Financial boosted their price target on shares of Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Piper Sandler boosted their price target on shares of Assurant from $264.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group boosted their price target on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings downgraded shares of Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.17.

View Our Latest Report on AIZ

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Assurant Company Profile

(Get Free Report)

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.

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