Assurant (NYSE:AIZ) Downgraded to Hold at StockNews.com

Assurant (NYSE:AIZ) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

AIZ has been the subject of a number of other reports. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday. Bank of America decreased their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.00.

Assurant Stock Performance

AIZ traded down $0.79 during trading hours on Tuesday, hitting $197.31. 317,042 shares of the stock were exchanged, compared to its average volume of 351,602. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. The stock has a 50-day simple moving average of $184.85 and a 200-day simple moving average of $177.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. Assurant has a 12 month low of $141.83 and a 12 month high of $199.50.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $3.89 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate that Assurant will post 16.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Assurant by 444.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,500 shares of the financial services provider’s stock worth $4,073,000 after buying an additional 20,000 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Assurant in the second quarter worth approximately $475,000. Cetera Investment Advisers increased its stake in shares of Assurant by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 14,342 shares of the financial services provider’s stock worth $2,384,000 after purchasing an additional 1,369 shares during the last quarter. Quarry LP raised its holdings in shares of Assurant by 1,580.9% during the 2nd quarter. Quarry LP now owns 1,143 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Assurant by 428.0% in the 2nd quarter. Creative Planning now owns 7,667 shares of the financial services provider’s stock valued at $1,275,000 after purchasing an additional 6,215 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Company Profile

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.