Jay Rosenblum Sells 2,000 Shares of Assurant (NYSE:AIZ) Stock

Assurant, Inc. (NYSE:AIZ) EVP Jay Rosenblum sold 2,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total value of $503,540.00. Following the transaction, the executive vice president directly owned 12,764 shares in the company, valued at approximately $3,213,592.28. This represents a 13.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Assurant Trading Up 0.6%

Shares of Assurant stock opened at $254.26 on Friday. Assurant, Inc. has a fifty-two week low of $183.39 and a fifty-two week high of $257.17. The firm has a market cap of $12.60 billion, a PE ratio of 13.01 and a beta of 0.56. The business’s fifty day moving average is $225.47 and its two-hundred day moving average is $228.21. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the company posted $5.79 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Assurant, Inc. will post 21.01 earnings per share for the current year.

Institutional Trading of Assurant

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Assurant by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock valued at $27,076,000 after purchasing an additional 16,388 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Assurant by 37.9% in the 3rd quarter. New York State Common Retirement Fund now owns 37,148 shares of the financial services provider’s stock valued at $8,046,000 after purchasing an additional 10,200 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Assurant by 25.6% in the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock valued at $59,537,000 after purchasing an additional 56,009 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Assurant by 23.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after purchasing an additional 959,259 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Assurant by 16.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 185,949 shares of the financial services provider’s stock valued at $44,786,000 after purchasing an additional 26,678 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIZ shares. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $240.00 to $285.00 in a research note on Thursday. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Keefe, Bruyette & Woods increased their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings lowered Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Truist Financial increased their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average price target of $272.17.

Assurant News Summary

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight and lifted its price target to $285, signaling confidence in further upside. Morgan Stanley upgrades Assurant (AIZ)
• Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst backdrop. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
• Positive Sentiment: BMO Capital also gave Assurant a Buy rating, reinforcing expectations for continued strength in the business. Assurant (AIZ) Receives a Buy from BMO Capital
• Neutral Sentiment: Analyst notes and earnings-call commentary are focusing attention on Assurant’s valuation and growth outlook after a strong quarter. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook
• Neutral Sentiment: Analysts are highlighting questions from Assurant’s Q1 earnings call, which may help investors gauge the durability of recent results. 5 Revealing Analyst Questions From Assurant’s Q1 Earnings Call
• Negative Sentiment: EVP Jay Rosenblum sold 2,000 shares at an average price of $251.77, a routine insider sale that may slightly temper sentiment. Insider sale filing

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.