Assurant, Inc. (NYSE:AIZ) EVP Sells $627,540.00 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Assurant Trading Up 1.1 %

Shares of NYSE:AIZ opened at $215.48 on Friday. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.11 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s 50-day simple moving average is $196.09 and its two-hundred day simple moving average is $182.18. Assurant, Inc. has a 52-week low of $159.32 and a 52-week high of $215.87.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $4.29 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Assurant, Inc. will post 15.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AIZ. Keefe, Bruyette & Woods increased their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday. Truist Financial increased their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America increased their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, UBS Group increased their price objective on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AIZ. Mizuho Securities USA LLC lifted its position in shares of Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after buying an additional 460,937 shares in the last quarter. AQR Capital Management LLC raised its stake in Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after purchasing an additional 255,471 shares during the period. International Assets Investment Management LLC bought a new stake in Assurant during the 3rd quarter valued at approximately $284,730,000. TD Asset Management Inc raised its stake in Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after purchasing an additional 96,021 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Assurant by 151.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 143,425 shares of the financial services provider’s stock valued at $26,998,000 after purchasing an additional 86,448 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.