Assurant, Inc. (AIZ) Stock Rating Lowered by BidaskClub
Assurant, Inc. (NYSE:AIZ) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
Shares of Assurant (NYSE:AIZ) opened at 100.06 on Tuesday. Assurant has a 12-month low of $78.50 and a 12-month high of $106.99. The firm’s 50-day moving average price is $104.04 and its 200-day moving average price is $100.09. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 13.15 and a beta of 0.77.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS. On average, analysts forecast that Assurant will post $6.56 EPS for the current fiscal year.
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In other Assurant news, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the transaction, the executive vice president now directly owns 55,978 shares of the company’s stock, valued at approximately $5,762,375.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock valued at $359,245,000 after buying an additional 3,622,668 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Assurant by 128.3% in the first quarter. Wedge Capital Management L L P NC now owns 1,158,533 shares of the financial services provider’s stock valued at $110,837,000 after buying an additional 651,139 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Assurant by 9,105.8% in the second quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock valued at $65,912,000 after buying an additional 628,754 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Assurant by 410.8% in the second quarter. Prudential Financial Inc. now owns 408,459 shares of the financial services provider’s stock valued at $42,353,000 after buying an additional 328,490 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Assurant by 16.7% in the first quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider’s stock valued at $184,788,000 after buying an additional 276,789 shares in the last quarter. 90.43% of the stock is owned by institutional investors.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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