Assurant (NYSE:AIZ – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.
A number of other research firms have also weighed in on AIZ. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $270.00 to $310.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. UBS Group raised 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, May 11th. Weiss Ratings cut shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada set a $310.00 price objective on Assurant in a report on Wednesday, June 17th. Finally, Morgan Stanley raised their target price on Assurant from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and a consensus target price of $291.43.
Read Our Latest Stock Report on Assurant
Assurant Price Performance
Assurant (NYSE:AIZ – Get Free Report) last announced its quarterly 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 analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $5.79 earnings per share. Analysts anticipate that Assurant will post 21.04 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total value of $503,540.00. Following the transaction, the executive vice president owned 12,764 shares in the company, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith Meier sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the completion of the sale, the executive vice president directly owned 18,552 shares in the company, valued at approximately $4,717,959.12. This represents a 57.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,000 shares of company stock worth $9,211,620 over the last quarter. Company insiders own 0.54% of the company’s stock.
Institutional Trading of Assurant
Large investors have recently bought and sold shares of the business. Montag A & Associates Inc. bought a new position in shares of Assurant in the 4th quarter worth about $28,000. Arlington Trust Co LLC grew its stake in Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Assurant during the second quarter worth approximately $27,000. Western Wealth Management LLC bought a new stake in Assurant in the first quarter worth approximately $33,000. Finally, BOKF NA bought a new stake in Assurant in the third quarter worth approximately $32,000. 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.
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