Assurant's (AIZ) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• Assurant's stock has been reaffirmed with a "buy (B-)" rating by Weiss Ratings, highlighting a generally positive sentiment from analysts.
• Assurant reported earnings of $5.56 per share, surpassing expectations and showing an 8.0% increase in revenue year-over-year.
• Insider selling was noted with CEO Keith Demmings selling 13,725 shares, indicating a decline in his ownership stake by approximately 13.95%.

Assurant (NYSE:AIZ - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the company. Stephens initiated coverage on Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. Morgan Stanley upped their price objective on Assurant from $230.00 to $232.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Benchmark initiated coverage on Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating for the company. Finally, Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Assurant currently has an average rating of "Buy" and an average target price of $238.00.

Assurant Trading Up 1.6%

Assurant stock traded up $3.41 during trading hours on Wednesday, reaching $219.70. The company had a trading volume of 61,315 shares, compared to its average volume of 466,373. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. Assurant has a 12-month low of $174.97 and a 12-month high of $230.55. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 15.90 and a beta of 0.55. The company has a 50-day moving average price of $210.40 and a 200 day moving average price of $200.58.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the firm earned $4.77 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities analysts forecast that Assurant will post 16.88 earnings per share for the current year.

Insider Activity at Assurant

In related news, CEO Keith Demmings sold 13,725 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares in the company, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the transaction, the chief accounting officer owned 3,135 shares in the company, valued at $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,125 shares of company stock worth $5,917,925. Insiders own 0.51% of the company's stock.

Hedge Funds Weigh In On Assurant

Several hedge funds have recently made changes to their positions in AIZ. Zions Bancorporation National Association UT purchased a new stake in Assurant in the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in shares of Assurant during the 1st quarter worth approximately $28,000. CYBER HORNET ETFs LLC purchased a new stake in Assurant in the 2nd quarter worth approximately $27,000. REAP Financial Group LLC grew its stake in Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider's stock worth $29,000 after acquiring an additional 95 shares during the period. Finally, Cullen Frost Bankers Inc. grew its stake in Assurant by 1,133.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider's stock worth $29,000 after acquiring an additional 136 shares during the period. Hedge funds and other 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.

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