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

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of the 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 of the company’s stock, valued at $4,321,240.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Assurant Price Performance

NYSE AIZ opened at $213.24 on Thursday. The company has a 50-day moving average price of $195.77 and a two-hundred day moving average price of $181.96. Assurant, Inc. has a 52 week low of $159.32 and a 52 week high of $214.82. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS 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 analysts’ expectations of $2.94 billion. During the same period last year, the firm earned $4.29 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Assurant, Inc. will post 15.05 EPS for the current year.

Institutional Trading of Assurant

A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. Pathstone Holdings LLC raised its holdings in Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after purchasing an additional 52 shares in the last quarter. US Bancorp DE raised its stake in shares of Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock worth $165,000 after buying an additional 56 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after buying an additional 59 shares during the period. Richardson Financial Services Inc. boosted its stake in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Assurant by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 78 shares during the period. 92.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AIZ shares. Truist Financial increased their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler increased their price target on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America boosted their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.