Assurant (NYSE:AIZ) Stock Rating Upgraded by Wall Street Zen

Assurant (NYSE:AIZ) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada set a $310.00 price objective on Assurant in a research report on Wednesday. UBS Group lifted their price target on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday, May 11th. Truist Financial increased their price objective on shares of Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $285.00 in a research note on Thursday, May 14th. Finally, Piper Sandler upped their target price on shares of Assurant from $268.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $283.57.

Assurant Price Performance

Shares of Assurant stock opened at $260.25 on Friday. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 13.31 and a beta of 0.56. The firm’s 50-day moving average price is $244.18 and its two-hundred day moving average price is $234.08. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant has a 1-year low of $183.39 and a 1-year high of $265.66.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. Assurant’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.79 earnings per share. On average, equities analysts predict that Assurant will post 21.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Assurant news, EVP Keith Meier sold 25,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the transaction, the executive vice president directly owned 18,552 shares in the company, valued at approximately $4,717,959.12. This represents a 57.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jay Rosenblum sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $251.77, for a total transaction of $503,540.00. Following the transaction, the executive vice president owned 12,764 shares in the company, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,000 shares of company stock worth $7,372,650 over the last three months. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Assurant

A number of institutional investors and hedge funds have recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new position in Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. acquired a new position in shares of Assurant in the 4th quarter valued at $28,000. BOKF NA acquired a new position in shares of Assurant in the 3rd quarter valued at $32,000. Western Wealth Management LLC bought a new position in shares of Assurant in the 1st quarter worth $33,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Company Profile

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.