Assurant, Inc. (AIZ) Lifted to Buy at BidaskClub

Assurant, Inc. (NYSE:AIZ) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, June 30th.

Assurant (AIZ) traded up 0.51% on Friday, hitting $105.47. The company had a trading volume of 202,112 shares. Assurant has a one year low of $78.50 and a one year high of $106.99. The stock’s 50-day moving average price is $104.14 and its 200 day moving average price is $99.23. The company has a market capitalization of $5.78 billion, a P/E ratio of 12.87 and a beta of 0.77.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.36. Assurant had a return on equity of 6.51% and a net margin of 7.05%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion. On average, analysts expect that Assurant will post $6.53 EPS for the current fiscal year.

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In other Assurant news, EVP Christopher J. Pagano sold 7,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total value of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA raised its position in Assurant by 374.3% in the fourth quarter. Federated Investors Inc. PA now owns 1,845 shares of the financial services provider’s stock valued at $171,000 after buying an additional 1,456 shares during the last quarter. Credit Agricole S A raised its position in Assurant by 144.1% in the fourth quarter. Credit Agricole S A now owns 20,059 shares of the financial services provider’s stock valued at $1,862,000 after buying an additional 11,842 shares during the last quarter. Two Sigma Investments LP raised its position in Assurant by 162.1% in the fourth quarter. Two Sigma Investments LP now owns 6,668 shares of the financial services provider’s stock valued at $619,000 after buying an additional 17,411 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Assurant by 1.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,653 shares of the financial services provider’s stock valued at $154,000 after buying an additional 29 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Assurant during the fourth quarter valued at $399,000. 92.25% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Company Profile

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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