Assurant (NYSE:AIZ) Earns Overweight Rating from Piper Sandler

Assurant (NYSE:AIZ)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $205.00 price objective on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 22.61% from the company’s previous close.

Separately, Keefe, Bruyette & Woods raised their price target on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.25.

Assurant Price Performance

Shares of Assurant stock traded down $0.06 during trading hours on Friday, reaching $167.20. The company’s stock had a trading volume of 88,675 shares, compared to its average volume of 348,088. The firm has a 50 day moving average price of $172.25 and a 200-day moving average price of $173.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $8.69 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.64 and a beta of 0.56. Assurant has a one year low of $122.42 and a one year high of $189.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.91. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. On average, analysts predict that Assurant will post 16.19 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the transaction, the insider now directly owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Assurant news, insider Robert Lonergan sold 2,700 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the sale, the chief operating officer now owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock worth $2,248,489 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assurant

A number of large investors have recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new stake in Assurant in the fourth quarter valued at $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Assurant during the fourth quarter worth about $40,000. Assetmark Inc. purchased a new position in Assurant during the fourth quarter valued at approximately $44,000. Global Retirement Partners LLC lifted its holdings in Assurant by 839.4% in the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 277 shares during the period. Finally, Quarry LP purchased a new stake in Assurant in the 4th quarter worth approximately $51,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.