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

Assurant, Inc. (NYSE:AIZ) EVP Keith Meier sold 25,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the sale, the executive vice president owned 18,552 shares of the company’s stock, valued at approximately $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Assurant Trading Down 0.6%

Assurant stock opened at $256.52 on Wednesday. The stock has a 50-day moving average of $226.76 and a two-hundred day moving average of $229.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. Assurant, Inc. has a one year low of $183.39 and a one year high of $260.96. The stock has a market cap of $12.71 billion, a PE ratio of 13.12 and a beta of 0.56.

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 analysts’ consensus estimates of $5.29 by $0.66. The business had revenue of $3.42 billion for 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 period in the prior year, the company earned $5.79 earnings per share. On average, research analysts anticipate that Assurant, Inc. will post 21.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock worth $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock worth $245,121,000 after buying an additional 205,767 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Assurant by 7.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider’s stock worth $168,006,000 after buying an additional 49,698 shares during the last quarter. Norges Bank purchased a new stake in shares of Assurant in the 4th quarter valued at about $161,574,000. Finally, Morgan Stanley lifted its holdings in shares of Assurant by 5.2% in the 4th quarter. Morgan Stanley now owns 640,431 shares of the financial services provider’s stock valued at $154,248,000 after purchasing an additional 31,432 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Piper Sandler increased their price target on Assurant from $264.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings downgraded Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. UBS Group raised their target price on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Truist Financial increased their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average price target of $272.17.

About Assurant

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.