Key Points
- Assurant EVP Jay Rosenblum sold 2,000 shares on May 14 at an average price of $251.77, for total proceeds of about $503,540. After the transaction, he still owned 12,764 shares.
- Assurant reported stronger-than-expected quarterly results, posting EPS of $5.95 versus the $5.29 consensus and revenue of $3.42 billion, which was above analyst expectations and up 11.3% year over year.
- Analyst sentiment remains broadly positive, with nine Buy ratings and one Hold rating on the stock and an average price target of $272.17. Recent firms including Morgan Stanley and UBS also raised targets or ratings.
Assurant, Inc. (NYSE:AIZ - Get Free Report) EVP Jay Rosenblum sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares in the company, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Assurant Price Performance
Shares of AIZ opened at $254.26 on Friday. 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 fifty-two week low of $183.39 and a fifty-two week high of $257.17. The company has a market cap of $12.60 billion, a P/E ratio of 13.01 and a beta of 0.56. The firm's 50 day moving average price is $225.47 and its 200 day moving average price is $228.21.
Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.29 billion. During the same quarter in the previous year, the business posted $5.79 EPS. The firm's revenue was up 11.3% on a year-over-year basis. On average, research analysts forecast that Assurant, Inc. will post 20.87 earnings per share for the current fiscal year.
Institutional Trading of Assurant
Institutional investors and hedge funds have recently bought and sold shares of the business. Montag A & Associates Inc. purchased a new stake in Assurant in the 4th quarter valued at $28,000. Versant Capital Management Inc raised its position in Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Assurant in the 2nd quarter valued at $27,000. Smartleaf Asset Management LLC raised its position in Assurant by 65.6% in the 3rd 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 stake in Assurant in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 92.65% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on AIZ. Weiss Ratings cut shares of Assurant from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday. BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Morgan Stanley upgraded shares of Assurant from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $240.00 to $285.00 in a report on Thursday. UBS Group boosted their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a "buy" rating in a report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $258.00 to $270.00 and gave the stock an "outperform" rating in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Assurant presently has an average rating of "Moderate Buy" and an average target price of $272.17.
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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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