Assurant, Inc. (NYSE:AIZ) EVP Biju Nair Sells 3,000 Shares

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred 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 sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Assurant Stock Performance

NYSE AIZ opened at $215.48 on Friday. The company has a market cap of $11.05 billion, a P/E ratio of 15.37, a P/E/G 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 business’s 50 day moving average price is $196.09 and its 200-day moving average price is $182.18. Assurant, Inc. has a fifty-two week low of $159.32 and a fifty-two week high of $215.87.

Assurant (NYSE:AIZ) last released its earnings results 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 firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company posted $4.29 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 15.05 earnings per share for the current year.

Hedge Funds Weigh In On Assurant

A number of large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Assurant during the 3rd quarter valued at $287,000. True Wealth Design LLC purchased a new position in Assurant during the 3rd quarter valued at $25,000. Edgestream Partners L.P. purchased a new position in Assurant during the 3rd quarter valued at $5,100,000. Martingale Asset Management L P boosted its holdings in Assurant by 37.4% during 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 acquiring an additional 1,123 shares during the period. Finally, Vinva Investment Management Ltd boosted its holdings in Assurant by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 1,624 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.