Key Points
- Assurant EVP Keith Meier sold 25,000 shares on May 15 at an average price of $254.31, totaling about $6.36 million. After the sale, he still held 18,552 shares, a 57.4% reduction in his ownership.
- Assurant’s stock was trading near its 52-week high, opening at $258.31, just below the year high of $260.97. The company has a market value of $12.8 billion and a moderate leverage profile.
- Recent earnings topped expectations, with Assurant reporting $5.95 EPS versus $5.29 expected and revenue of $3.42 billion, up 11.3% year over year. Analysts remain mostly bullish, with a consensus rating of “Moderate Buy” and an average target price of $272.17.
Assurant, Inc. (NYSE:AIZ - Get Free Report) EVP Keith Meier sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president directly owned 18,552 shares of the company's stock, valued at $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Assurant Stock Up 1.5%
NYSE:AIZ opened at $258.31 on Tuesday. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $260.97. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 13.21 and a beta of 0.56. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock's 50 day moving average price is $226.09 and its two-hundred day moving average price is $228.67.
Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the firm posted $5.79 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts expect that Assurant, Inc. will post 21.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Assurant
Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of Assurant by 72.6% in the third 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 acquired a new position in shares of Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. acquired a new position in shares of Assurant in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC grew its position in shares of Assurant by 65.6% in the third 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 acquired a new position in shares of Assurant in the third quarter valued at approximately $32,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on AIZ shares. Piper Sandler raised their target price on shares of Assurant from $264.00 to $268.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Wall Street Zen lowered Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. UBS Group raised their price objective on Assurant from $270.00 to $274.00 and gave the company a "buy" rating in a research report on Monday, May 11th. BMO Capital Markets decreased their target price on Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings downgraded Assurant from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $272.17.
View Our Latest Stock Analysis on Assurant
About Assurant
(
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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