Assurant, Inc. (AIZ) Rating Lowered to Hold at BidaskClub
Assurant, Inc. (NYSE:AIZ) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Assurant (NYSE AIZ) traded down 0.28% during midday trading on Wednesday, hitting $105.41. The stock had a trading volume of 308,386 shares. The stock has a market cap of $5.78 billion, a P/E ratio of 12.86 and a beta of 0.77. Assurant has a 52 week low of $78.50 and a 52 week high of $106.47. The company has a 50-day moving average price of $103.09 and a 200-day moving average price of $98.80.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.36. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.62 billion. Assurant had a return on equity of 6.51% and a net margin of 7.05%. Equities analysts expect that Assurant will post $6.53 EPS for the current year.
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In other news, EVP Christopher J. Pagano sold 7,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the transaction, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AIZ. Federated Investors Inc. PA increased its position in Assurant by 374.3% in the fourth quarter. Federated Investors Inc. PA now owns 1,845 shares of the financial services provider’s stock valued at $171,000 after buying an additional 1,456 shares during the last quarter. Two Sigma Investments LP increased its position in Assurant by 162.1% in the fourth quarter. Two Sigma Investments LP now owns 6,668 shares of the financial services provider’s stock valued at $619,000 after buying an additional 17,411 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Assurant by 1.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,653 shares of the financial services provider’s stock valued at $154,000 after buying an additional 29 shares during the last quarter. Teachers Advisors LLC increased its position in Assurant by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 75,649 shares of the financial services provider’s stock valued at $7,025,000 after buying an additional 2,832 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Assurant during the fourth quarter valued at $384,000. Institutional investors own 92.25% of the company’s stock.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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