T. Rowe Price Investment Management Inc. trimmed its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,039,199 shares of the financial services provider's stock after selling 77,832 shares during the period. T. Rowe Price Investment Management Inc. owned 9.82% of Assurant worth $1,074,459,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of AIZ. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after buying an additional 103 shares during the period. TD Private Client Wealth LLC raised 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 valued at $41,000 after buying an additional 161 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in 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 buying an additional 86 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.
Insiders Place Their Bets
In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Wednesday, February 19th. The shares were 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 of the company's stock, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AIZ. Truist Financial upped their price target on shares of Assurant from $240.00 to $250.00 and gave the company 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 for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods lowered their target price on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $234.17.
Read Our Latest Stock Report on Assurant
Assurant Trading Down 1.2 %
AIZ traded down $2.27 during trading on Friday, reaching $190.92. 305,048 shares of the stock traded hands, compared to its average volume of 384,224. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average is $200.68 and its 200 day moving average is $206.66. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The stock has a market capitalization of $9.71 billion, a PE ratio of 13.19 and a beta of 0.53.
Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS 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 analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.
About Assurant
(
Free Report)
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.
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