Assurant, Inc. (NYSE:AIZ) Short Interest Update

Assurant, Inc. (NYSE:AIZ) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 697,100 shares, a decline of 7.7% from the October 15th total of 755,500 shares. Based on an average trading volume of 335,700 shares, the short-interest ratio is presently 2.1 days. Approximately 1.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of recent research reports. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America boosted their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. UBS Group boosted 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. Finally, Truist Financial lifted their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Assurant during the third quarter worth about $25,000. Innealta Capital LLC acquired a new position in Assurant during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. lifted its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Huntington National Bank raised its position in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Assurant during the third quarter worth about $42,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 1.3 %

Shares of AIZ opened at $221.60 on Tuesday. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.18 and a beta of 0.57. Assurant has a 1 year low of $160.12 and a 1 year high of $221.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50 day simple moving average is $197.03 and its 200-day simple moving average is $182.83.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $4.29 earnings per share. Assurant’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts expect that Assurant will post 15.05 earnings per share for the current fiscal year.

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.