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

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

Assurant Trading Down 1.4%

Shares of AIZ stock opened at $200.61 on Wednesday. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 13.86 and a beta of 0.59. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. 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 fifty day simple moving average is $198.23 and its two-hundred day simple moving average is $207.17.

Assurant (NYSE:AIZ) last issued its quarterly earnings data 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. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Assurant’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.78 earnings per share. As a group, analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Institutional Trading of Assurant

Several institutional investors and hedge funds have recently modified their holdings of AIZ. PNC Financial Services Group Inc. increased its stake in Assurant by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider’s stock valued at $1,657,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Assurant by 28.6% in the fourth quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 188 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Assurant during the fourth quarter valued at approximately $329,000. Merit Financial Group LLC purchased a new position in Assurant during the 4th quarter valued at $254,000. Finally, Barclays PLC increased its position in shares of Assurant by 48.4% during the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock valued at $38,243,000 after buying an additional 62,696 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective for the company in a research note on Thursday, April 10th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price objective on Assurant from $200.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday. 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, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $228.67.

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.