StockNews.com Lowers Assurant (NYSE:AIZ) to Hold

Assurant (NYSE:AIZ - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

AIZ has been the subject of several other research reports. Bank of America lifted their price target on shares of Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. UBS Group upped their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on Assurant from $186.00 to $194.00 and gave the company a "market perform" rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Assurant has an average rating of "Moderate Buy" and a consensus target price of $214.60.

Assurant Stock Up 0.7 %

Shares of AIZ stock traded up $1.35 on Thursday, reaching $198.21. 359,780 shares of the company were exchanged, compared to its average volume of 349,428. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $192.28 and a 200-day moving average of $179.13. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.61 and a beta of 0.57. Assurant has a one year low of $144.61 and a one year high of $201.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business earned $3.89 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Analysts anticipate that Assurant will post 16.54 earnings per share for the current year.

Insider Transactions at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company's stock, valued at $717,329.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares of the company's stock, valued at approximately $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Martin Jenns sold 1,500 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company's stock, valued at $717,329.51. This represents a 0.00 % 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

Several institutional investors and hedge funds have recently made changes to their positions in AIZ. AQR Capital Management LLC raised its holdings in Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider's stock valued at $173,179,000 after acquiring an additional 255,471 shares during the period. Dimensional Fund Advisors LP grew its holdings in Assurant by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider's stock valued at $116,159,000 after buying an additional 12,935 shares in the last quarter. TD Asset Management Inc increased its position in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock valued at $94,118,000 after buying an additional 96,021 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Assurant by 0.7% in the second quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider's stock worth $63,765,000 after buying an additional 2,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Assurant by 8.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 255,736 shares of the financial services provider's stock valued at $43,089,000 after acquiring an additional 19,839 shares during the period. Institutional investors own 92.65% of the company's stock.

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.