Crestline Management LP Purchases New Position in Assurant, Inc. (NYSE:AIZ)

Crestline Management LP acquired a new position in Assurant, Inc. (NYSE:AIZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,084 shares of the financial services provider’s stock, valued at approximately $1,510,000.

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

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

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

Assurant Stock Performance

NYSE AIZ opened at $194.63 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s fifty day moving average is $198.84 and its two-hundred day moving average is $206.70. The firm has a market capitalization of $9.90 billion, a P/E ratio of 13.45 and a beta of 0.59. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $4.78 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, 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.