Asset Management Group Inc. Lowers Position in Assurant, Inc. (NYSE:AIZ)

Asset Management Group Inc. lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,299 shares of the financial services provider’s stock after selling 367 shares during the period. Asset Management Group Inc.’s holdings in Assurant were worth $703,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AIZ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the 4th quarter worth $28,000. Smartleaf Asset Management LLC increased its stake in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 161 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in shares of Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AIZ shares. Keefe, Bruyette & Woods cut their price target on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Truist Financial raised their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $234.17.

Insiders Place Their Bets

In other news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by company insiders.

Assurant Price Performance

AIZ opened at $197.00 on Friday. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 13.61 and a beta of 0.53. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $199.82 and a 200 day simple moving average of $206.71.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating 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 expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

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.