Assurant, Inc. (NYSE:AIZ) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 122.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,940 shares of the financial services provider’s stock after purchasing an additional 23,100 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Assurant were worth $8,942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in Assurant by 48.4% in the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock valued at $38,243,000 after acquiring an additional 62,696 shares during the period. World Investment Advisors LLC acquired a new position in Assurant in the third quarter valued at approximately $1,214,000. Wilmington Savings Fund Society FSB acquired a new position in Assurant in the third quarter valued at approximately $244,000. Principal Financial Group Inc. lifted its holdings in Assurant by 6.4% in the third quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider’s stock valued at $14,370,000 after acquiring an additional 4,317 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock valued at $34,079,000 after acquiring an additional 24,887 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 0.8 %

Shares of AIZ opened at $192.33 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 13.29 and a beta of 0.53. The stock has a 50 day moving average price of $200.52 and a 200 day moving average price of $206.89.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIZ. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a report on Thursday, April 10th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reduced their target price on Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.17.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by company insiders.

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.