StockNews.com Lowers Assurant (NYSE:AIZ) to Hold

Assurant (NYSE:AIZ) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other analysts have also commented on AIZ. Bank of America lifted their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group lifted their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler lifted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.60.

Assurant Stock Performance

Assurant stock opened at $196.97 on Thursday. The business’s 50-day moving average price is $192.28 and its two-hundred day moving average price is $179.13. Assurant has a 12-month low of $144.61 and a 12-month high of $201.55. The stock has a market cap of $10.24 billion, a PE ratio of 13.75, a P/E/G ratio of 1.61 and a beta of 0.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm posted $3.89 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts expect that Assurant will post 16.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Assurant during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. increased its holdings in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Assurant during the second quarter valued at approximately $51,000. Covestor Ltd increased its holdings in shares of Assurant by 35.7% during the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 91 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Assurant by 40.1% during the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

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.