Marshall Wace LLP raised its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,167 shares of the financial services provider's stock after buying an additional 3,290 shares during the period. Marshall Wace LLP owned 0.36% of Assurant worth $38,842,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AIZ. Bank of New York Mellon Corp lifted its holdings in Assurant by 36.7% in 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. Norges Bank acquired a new position in shares of Assurant in the 4th quarter valued at about $143,475,000. Amundi lifted its stake in shares of Assurant by 45.0% in the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock valued at $57,764,000 after purchasing an additional 87,323 shares during the period. FIL Ltd grew its stake in Assurant by 42.4% during the fourth quarter. FIL Ltd now owns 213,550 shares of the financial services provider's stock worth $45,533,000 after purchasing an additional 63,550 shares during the period. Finally, Barclays PLC lifted its stake in Assurant by 48.4% in the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider's stock valued at $38,243,000 after buying an additional 62,696 shares during the period. Institutional investors own 92.65% of the company's stock.
Assurant Trading Up 0.9 %
NYSE AIZ traded up $1.78 during trading on Thursday, hitting $192.85. 69,945 shares of the company's stock traded hands, compared to its average volume of 383,122. The firm has a market cap of $9.81 billion, a P/E ratio of 13.34 and a beta of 0.53. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The stock has a fifty day moving average of $201.08 and a two-hundred day moving average of $206.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43.
Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly 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 net margin of 6.40% and a return on equity of 17.25%. As a group, sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.
Insider Transactions at Assurant
In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 17,708 shares of the company's stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AIZ shares. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Truist Financial boosted their target price on 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 target on the stock in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.
Read Our Latest Stock Report on Assurant
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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