First Trust Advisors LP Has $56.24 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

First Trust Advisors LP trimmed its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,762 shares of the financial services provider's stock after selling 46,821 shares during the quarter. First Trust Advisors LP owned about 0.51% of Assurant worth $56,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Assurant by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock worth $1,657,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Assurant by 28.6% during the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock worth $168,000 after purchasing an additional 188 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Assurant by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock valued at $34,079,000 after purchasing an additional 24,887 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Assurant in the 4th quarter valued at approximately $329,000. Finally, Merit Financial Group LLC bought a new position in Assurant in the 4th quarter worth approximately $254,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the transaction, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Assurant Stock Performance

NYSE:AIZ opened at $188.55 on Wednesday. The firm has a market capitalization of $9.59 billion, a PE ratio of 13.03 and a beta of 0.53. 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, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The firm has a 50-day moving average price of $201.31 and a 200 day moving average price of $206.71.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on AIZ shares. Keefe, Bruyette & Woods dropped their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a research report on Thursday, April 10th. Truist Financial increased 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. Finally, StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Two equities 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 a consensus price target of $234.17.

Assurant 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.

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