Jay Rosenblum Sells 2,000 Shares of Assurant (NYSE:AIZ) Stock

Key Points

• Assurant EVP Jay Rosenblum sold 2,000 shares on May 14 at an average price of $251.77, totaling about $503,540. After the sale, he still held 12,764 shares, a 13.55% reduction in his position.
• Assurant beat quarterly earnings expectations, reporting $5.95 EPS versus the $5.29 consensus and revenue of $3.42 billion, up 11.3% year over year. The company also posted a 7.60% net margin and 20.32% return on equity.
• Analyst sentiment remains broadly positive, with Morgan Stanley upgrading the stock to Overweight and lifting its target to $285. Overall, nine analysts rate Assurant a Buy and the consensus price target is $272.17.

Assurant, Inc. (NYSE:AIZ - Get Free Report) EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares in the company, valued at approximately $3,213,592.28. This trade represents a 13.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Assurant Price Performance

AIZ traded up $1.54 on Friday, hitting $254.26. 481,597 shares of the company's stock were exchanged, compared to its average volume of 405,357. Assurant, Inc. has a fifty-two week low of $183.39 and a fifty-two week high of $257.17. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $225.02 and a 200-day moving average price of $228.02. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 13.01 and a beta of 0.56.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.29 billion. During the same quarter in the previous year, the company posted $5.79 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Assurant, Inc. will post 20.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Assurant by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider's stock valued at $1,213,968,000 after buying an additional 29,974 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Assurant by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider's stock valued at $245,121,000 after buying an additional 205,767 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Assurant by 7.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider's stock valued at $168,006,000 after buying an additional 49,698 shares during the last quarter. Norges Bank acquired a new position in Assurant in the fourth quarter valued at about $161,574,000. Finally, Morgan Stanley lifted its position in Assurant by 5.2% in the fourth quarter. Morgan Stanley now owns 640,431 shares of the financial services provider's stock valued at $154,248,000 after buying an additional 31,432 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant News Roundup

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Morgan Stanley upgraded Assurant to Overweight from Equal Weight and raised its price target to $285 from $240, signaling more upside potential. Morgan Stanley upgrades Assurant (AIZ)
• Positive Sentiment: KBW reaffirmed its Buy rating on Assurant, adding to the bullish analyst momentum around the stock. KBW Reaffirms Their Buy Rating on Assurant (AIZ)
• Positive Sentiment: BMO Capital also reiterated a Buy rating, reinforcing confidence in Assurant’s earnings power and growth outlook. Assurant (AIZ) Receives a Buy from BMO Capital
• Positive Sentiment: Analysts and commentary highlighted Assurant’s record quarter and underlying business strength, which supports the recent share-price strength. Assurant Signals Underlying Strength In Record Quarter
• Neutral Sentiment: Additional coverage is focused on valuation and post-earnings analysis, suggesting the market is evaluating whether recent gains are justified by Assurant’s growth outlook. Assessing Assurant (AIZ) Valuation After Recent Share Price Strength And Growth Outlook

Wall Street Analyst Weigh In

AIZ has been the topic of several recent research reports. Weiss Ratings cut shares of Assurant from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. Morgan Stanley raised shares of Assurant from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $240.00 to $285.00 in a research report on Thursday. Truist Financial boosted their price target on shares of Assurant from $280.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a research report on Thursday, February 12th. Finally, Piper Sandler boosted their price target on shares of Assurant from $264.00 to $268.00 and gave the company an "overweight" rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $272.17.

Assurant Company Profile

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.

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