Assurant (NYSE:AIZ) Stock Rating Lowered by StockNews.com

Assurant (NYSE:AIZ) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. UBS Group upped their target price on Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Piper Sandler downgraded Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Thursday, August 22nd. Finally, Bank of America cut their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Assurant presently has an average rating of “Moderate Buy” and an average price target of $207.60.

Assurant Trading Up 0.2 %

Shares of NYSE AIZ opened at $196.78 on Monday. The stock has a market capitalization of $10.23 billion, a P/E ratio of 13.73, a PEG ratio of 1.66 and a beta of 0.54. The business’s 50 day moving average is $175.76 and its two-hundred day moving average is $175.84. Assurant has a 1-year low of $136.88 and a 1-year high of $197.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. Assurant’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 earnings per share. As a group, research analysts expect that Assurant will post 16.54 EPS for the current year.

Insider Transactions at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIZ. Catalyst Financial Partners LLC increased its position in shares of Assurant by 4.2% during the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 59 shares during the period. Empirical Finance LLC increased its position in shares of Assurant by 3.3% during the first quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 64 shares during the period. Fifth Third Bancorp increased its position in shares of Assurant by 3.8% during the first quarter. Fifth Third Bancorp now owns 1,949 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 71 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Assurant by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 73 shares during the period. Finally, Richardson Financial Services Inc. increased its position in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

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.