Nippon Life Global Investors Americas Inc. Has $904,000 Holdings in Assurant, Inc. (NYSE:AIZ)

Nippon Life Global Investors Americas Inc. cut its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 29.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,240 shares of the financial services provider's stock after selling 1,790 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in Assurant were worth $904,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Assurant by 36.7% during the 4th 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 acquiring an additional 891,292 shares during the period. Norges Bank acquired a new position in Assurant during the fourth quarter valued at $143,475,000. Amundi grew its position in Assurant by 45.0% during the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock worth $57,764,000 after purchasing an additional 87,323 shares during the period. FIL Ltd lifted its holdings in shares of Assurant by 42.4% in the 4th quarter. FIL Ltd now owns 213,550 shares of the financial services provider's stock valued at $45,533,000 after buying an additional 63,550 shares during the period. Finally, Barclays PLC boosted its stake in shares of Assurant by 48.4% in the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider's stock worth $38,243,000 after buying an additional 62,696 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIZ. Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods dropped their target price on Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Piper Sandler upgraded 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.17.

Assurant Stock Up 1.1 %

Assurant stock traded up $2.10 during mid-day trading on Thursday, hitting $193.17. The company had a trading volume of 277,233 shares, compared to its average volume of 384,265. 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 1 year low of $160.12 and a 1 year high of $230.55. The business has a fifty day moving average of $200.89 and a 200 day moving average of $206.65. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 13.35 and a beta of 0.53.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share 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%. On average, sell-side analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Insider Activity at Assurant

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

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.