Assurant (NYSE:AIZ) Hits New 52-Week High – Time to Buy?

by · The Cerbat Gem

Assurant, Inc. (NYSE:AIZ – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $214.99 and last traded at $214.62, with a volume of 395053 shares changing hands. The stock had previously closed at $213.24.

Analyst Ratings Changes

Several brokerages have recently issued reports on AIZ. Truist Financial lifted their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group lifted their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price target on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Piper Sandler lifted their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

View Our Latest Stock Analysis on AIZ

Assurant Stock Performance

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 company has a market cap of $11.05 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.11 and a beta of 0.57. The company has a fifty day moving average of $196.09 and a two-hundred day moving average of $182.18.

Assurant (NYSE:AIZ – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the business posted $4.29 EPS. Assurant’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Assurant, Inc. will post 15.05 EPS for the current year.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The trade was a 14.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. The trade was a 14.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. Martingale Asset Management L P increased its position in Assurant by 37.4% in the 3rd quarter. Martingale Asset Management L P now owns 4,127 shares of the financial services provider’s stock valued at $821,000 after buying an additional 1,123 shares in the last quarter. Vinva Investment Management Ltd increased its position in Assurant by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 1,624 shares of the financial services provider’s stock valued at $325,000 after buying an additional 103 shares in the last quarter. Public Sector Pension Investment Board increased its position in Assurant by 2.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,021 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Assurant by 12.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,776 shares of the financial services provider’s stock valued at $5,126,000 after buying an additional 2,753 shares in the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in Assurant in the 3rd quarter valued at about $229,000. 92.65% of the stock is owned by institutional investors and hedge funds.

About Assurant

(Get Free Report)

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.

Featured Articles