2,896 Shares in Assurant, Inc. (NYSE:AIZ) Purchased by iSAM Funds UK Ltd

iSAM Funds UK Ltd acquired a new position in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,896 shares of the financial services provider’s stock, valued at approximately $617,000.

Several other large investors also recently modified their holdings of AIZ. Bank of New York Mellon Corp grew its position in Assurant by 36.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock valued at $708,016,000 after buying an additional 891,292 shares during the period. Geode Capital Management LLC grew its position in shares of Assurant by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider’s stock worth $299,724,000 after buying an additional 10,956 shares in the last quarter. Northern Trust Corp raised its stake in shares of Assurant by 23.1% in the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider’s stock worth $177,370,000 after purchasing an additional 156,364 shares during the last quarter. Norges Bank purchased a new stake in shares of Assurant during the fourth quarter worth approximately $143,475,000. Finally, Clark Capital Management Group Inc. lifted its stake in shares of Assurant by 1.2% in the 4th quarter. Clark Capital Management Group Inc. now owns 607,458 shares of the financial services provider’s stock valued at $129,522,000 after purchasing an additional 7,211 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Activity

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’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 transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jay Rosenblum sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the sale, the executive vice president now owns 11,775 shares in the company, valued at $2,377,725.75. The trade was a 7.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of recent research reports. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Truist Financial boosted their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective on the stock in a research note on Thursday, April 10th. Morgan Stanley lifted their price objective on Assurant from $200.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on Assurant from $224.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.67.

Assurant Price Performance

Assurant stock opened at $203.26 on Tuesday. The business’s 50-day simple moving average is $198.30 and its 200 day simple moving average is $207.22. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 14.05 and a beta of 0.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the business posted $4.78 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current 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.