Assurant (NYSE:AIZ) Hits New 1-Year High – What’s Next?

by · The Cerbat Gem

Assurant, Inc. (NYSE:AIZGet Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $247.42 and last traded at $241.7660, with a volume of 10984 shares trading hands. The stock had previously closed at $239.67.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AIZ shares. 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. Morgan Stanley upgraded Assurant from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $240.00 to $285.00 in a report on Thursday. Truist Financial raised their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings lowered Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price target on Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and an average target price of $272.17.

View Our Latest Stock Analysis on AIZ

Assurant Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 12.93 and a beta of 0.56. The stock has a 50-day moving average price of $224.63 and a 200 day moving average price of $227.73.

Assurant (NYSE:AIZGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the firm earned $5.79 EPS. Assurant’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Assurant, Inc. will post 20.87 EPS for the current fiscal year.

Insider Activity at Assurant

In other news, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the sale, the executive vice president owned 2,895 shares of the company’s stock, valued at $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the sale, the chief accounting officer owned 4,741 shares in the company, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,650 shares of company stock valued at $558,331 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Assurant

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after buying an additional 910 shares during the period. Goldman Sachs Group Inc. raised its position in Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after buying an additional 47,548 shares during the last quarter. United Services Automobile Association bought a new stake in Assurant in the 1st quarter valued at approximately $203,000. Focus Partners Wealth lifted its stake in Assurant by 66.6% in the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock valued at $556,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Company Profile

(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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