Assurant (NYSE:AIZ) Cut to Hold at Wall Street Zen

Assurant (NYSE:AIZ - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley set a $217.00 price objective on shares of Assurant and gave the stock an "equal weight" rating in a report on Monday, May 19th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.67.

Assurant Stock Performance

AIZ stock traded up $1.69 during mid-day trading on Friday, reaching $193.47. The company had a trading volume of 264,316 shares, compared to its average volume of 428,663. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.84 billion, a P/E ratio of 15.08 and a beta of 0.59. Assurant has a one year low of $160.12 and a one year high of $230.55. The stock's 50-day simple moving average is $197.76 and its two-hundred day simple moving average is $202.68.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.61. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a net margin of 5.55% and a return on equity of 15.49%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.78 earnings per share. Research analysts anticipate that Assurant will post 16.88 EPS for the current year.

Insider Transactions at Assurant

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the sale, the executive vice president owned 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.51% of the company's stock.

Institutional Investors Weigh In On Assurant

Large investors have recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in Assurant during the first quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after purchasing an additional 75 shares during the period. Alpine Bank Wealth Management bought a new stake in Assurant during the first quarter worth approximately $28,000. Private Trust Co. NA boosted its position in Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after purchasing an additional 98 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares during the period. Institutional investors own 92.65% of the company's stock.

About Assurant

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.