Keith Meier Sells 25,000 Shares of Assurant (NYSE:AIZ) Stock

by · The Cerbat Gem

Assurant, Inc. (NYSE:AIZ – Get Free Report) EVP Keith Meier sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president directly owned 18,552 shares in the company, valued at $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Assurant Stock Up 1.5%

Assurant stock traded up $3.70 during midday trading on Monday, hitting $258.31. 525,501 shares of the company were exchanged, compared to its average volume of 406,635. The company’s fifty day moving average price is $225.47 and its 200-day moving average price is $228.32. The company has a market cap of $12.80 billion, a PE ratio of 13.21 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a fifty-two week low of $183.39 and a fifty-two week high of $260.97.

Assurant (NYSE:AIZ – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.Assurant’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $5.79 EPS. On average, research analysts predict that Assurant, Inc. will post 21.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets reduced their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Piper Sandler boosted their price target on Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. UBS Group boosted their price target on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $240.00 to $285.00 in a research report on Thursday. Finally, Truist Financial upped their target price on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Nine 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.17.

Check Out Our Latest Stock Report on AIZ

Hedge Funds Weigh In On Assurant

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Assurant by 17.2% in the 1st quarter. Royal Bank of Canada now owns 79,737 shares of the financial services provider’s stock valued at $17,368,000 after acquiring an additional 11,712 shares during the last quarter. Quantinno Capital Management LP grew its stake in Assurant by 83.7% during the 1st quarter. Quantinno Capital Management LP now owns 74,826 shares of the financial services provider’s stock worth $16,298,000 after buying an additional 34,103 shares during the last quarter. Lazard Asset Management LLC grew its stake in Assurant by 130.6% during the 1st quarter. Lazard Asset Management LLC now owns 43,809 shares of the financial services provider’s stock worth $9,542,000 after buying an additional 24,815 shares during the last quarter. Gateway Wealth Partners LLC bought a new position in Assurant during the 1st quarter worth $251,000. Finally, Waverly Advisors LLC bought a new position in Assurant during the 1st quarter worth $340,000. 92.65% of the stock is owned by institutional investors and hedge funds.

About Assurant

(Get Free Report)

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.

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