Assurant, Inc. (NYSE:AIZ) EVP Jay Rosenblum Sells 1,000 Shares

Assurant, Inc. (NYSE:AIZ) EVP Jay Rosenblum sold 1,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the sale, the executive vice president now directly owns 11,775 shares of the company’s stock, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Assurant Price Performance

Shares of NYSE:AIZ traded up $0.93 on Monday, reaching $203.26. 429,561 shares of the company traded hands, compared to its average volume of 392,484. The stock has a market capitalization of $10.34 billion, a PE ratio of 14.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50 day moving average is $198.26 and its 200-day moving average is $207.14. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the business posted $4.78 earnings per share. Assurant’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIZ has been the subject of several recent research reports. Morgan Stanley upped their target price on Assurant from $200.00 to $217.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods increased their price target on Assurant from $224.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Truist Financial boosted their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.67.

Institutional Trading of Assurant

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in shares of Assurant during the first quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its stake in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Assurant in the first quarter worth $28,000. Finally, Private Trust Co. NA grew its holdings in shares of Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock valued at $31,000 after buying an additional 98 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.