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

Assurant, Inc. (NYSE:AIZ) EVP Keith Meier sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 18,552 shares of the company’s stock, valued at approximately $4,717,959.12. The trade was a 57.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $3.70 on Monday, hitting $258.31. The company’s stock had a trading volume of 525,501 shares, compared to its average volume of 406,635. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 13.21 and a beta of 0.56. The stock’s 50-day moving average is $225.47 and its two-hundred day moving average is $228.32. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $260.97.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.66. The business had revenue of $3.42 billion during 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%.The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.79 earnings per share. On average, equities research analysts forecast that Assurant, Inc. will post 21.01 EPS for the current year.

Institutional Trading of Assurant

Several hedge funds have recently added to or reduced their stakes in AIZ. Montag A & Associates Inc. bought a new stake in shares of Assurant in the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its position in shares of Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Assurant during the 2nd quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 65.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares during the period. Finally, BOKF NA bought a new position in shares of Assurant during the 3rd quarter worth approximately $32,000. Institutional investors own 92.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AIZ shares. Weiss Ratings downgraded Assurant from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Truist Financial upped their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $240.00 to $285.00 in a research report on Thursday. Finally, BMO Capital Markets dropped their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average target price of $272.17.

Assurant Company Profile

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.