Envestnet Asset Management Inc. Buys 15,218 Shares of Assurant, Inc. (NYSE:AIZ)

Envestnet Asset Management Inc. grew its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,413 shares of the financial services provider's stock after purchasing an additional 15,218 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of Assurant worth $20,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. acquired a new position in Assurant during the fourth quarter worth $4,375,000. World Investment Advisors increased its stake in shares of Assurant by 24.3% during the 4th quarter. World Investment Advisors now owns 7,590 shares of the financial services provider's stock worth $1,618,000 after purchasing an additional 1,483 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Assurant by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock valued at $299,724,000 after purchasing an additional 10,956 shares during the period. OLD Mission Capital LLC acquired a new stake in Assurant in the 4th quarter valued at about $5,029,000. Finally, HighPoint Advisor Group LLC bought a new position in Assurant during the fourth quarter worth about $219,000. Institutional investors own 92.65% of the company's stock.

Assurant Stock Down 0.7 %

Shares of NYSE AIZ traded down $1.31 during midday trading on Friday, hitting $189.01. 432,677 shares of the stock traded hands, compared to its average volume of 382,959. 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 business has a 50 day moving average price of $202.17 and a two-hundred day moving average price of $206.81. The company has a market cap of $9.61 billion, a PE ratio of 13.06 and a beta of 0.53.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, equities analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant 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 owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Assurant Company Profile

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.