Assurant, Inc. (NYSE:AIZ – Get 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:AIZ – Get 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
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.
Trending Headlines about Assurant
Here are the key news stories impacting Assurant this week:
- Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight and lifted its price target to $285, signaling confidence in further upside. Morgan Stanley upgrades Assurant (AIZ)
- Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst backdrop. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
- Positive Sentiment: BMO Capital also gave Assurant a Buy rating, reinforcing expectations for continued strength in the business. Assurant (AIZ) Receives a Buy from BMO Capital
- Neutral Sentiment: Analyst notes and earnings-call commentary are focusing attention on Assurant’s valuation and growth outlook after a strong quarter. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook
- Neutral Sentiment: Analysts are highlighting questions from Assurant’s Q1 earnings call, which may help investors gauge the durability of recent results. 5 Revealing Analyst Questions From Assurant’s Q1 Earnings Call
- Negative Sentiment: EVP Jay Rosenblum sold 2,000 shares at an average price of $251.77, a routine insider sale that may slightly temper sentiment. Insider sale filing
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.
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