Vanguard Group Inc. Buys 8,601 Shares of Assurant, Inc. $AIZ

Vanguard Group Inc. increased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,646,106 shares of the financial services provider’s stock after acquiring an additional 8,601 shares during the quarter. Vanguard Group Inc. owned approximately 13.27% of Assurant worth $1,600,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AIZ. Jones Financial Companies Lllp grew its position in Assurant by 606.7% during the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 910 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Assurant by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock worth $60,987,000 after acquiring an additional 47,548 shares during the last quarter. United Services Automobile Association bought a new position in Assurant during the 1st quarter worth approximately $203,000. Focus Partners Wealth grew its position in Assurant by 66.6% during the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIZ has been the topic of several recent research reports. BMO Capital Markets reduced their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Truist Financial raised their price target on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings upgraded Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Morgan Stanley cut their price objective on Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.83.

Assurant Price Performance

Shares of AIZ stock opened at $236.71 on Friday. The firm has a market cap of $11.77 billion, a P/E ratio of 13.95 and a beta of 0.56. Assurant, Inc. has a fifty-two week low of $183.39 and a fifty-two week high of $246.31. The business’s 50 day moving average price is $222.74 and its 200-day moving average price is $226.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $4.79 EPS. On average, equities research analysts anticipate that Assurant, Inc. will post 20.75 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Subhashish Sengupta sold 1,880 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the transaction, the executive vice president owned 2,895 shares in the company, valued at $609,484.35. This trade represents a 39.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the transaction, the chief accounting officer owned 4,741 shares of the company’s stock, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,650 shares of company stock worth $558,331. Corporate insiders own 0.54% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.