Assurant, Inc. $AIZ Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. raised its stake in Assurant, Inc. (NYSE:AIZ) by 84.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,661 shares of the financial services provider’s stock after acquiring an additional 2,597 shares during the quarter. Machina Capital S.A.S.’s holdings in Assurant were worth $1,492,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blackhawk Capital Partners LLC increased its position in Assurant by 2.5% during the 1st quarter. Blackhawk Capital Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 55 shares in the last quarter. Arlington Trust Co LLC lifted its stake in Assurant by 81.4% in the 2nd quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Empirical Finance LLC lifted its stake in Assurant by 3.2% in the 2nd quarter. Empirical Finance LLC now owns 1,960 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 60 shares during the last quarter. Parallel Advisors LLC boosted its position in Assurant by 21.4% in the first quarter. Parallel Advisors LLC now owns 386 shares of the financial services provider’s stock valued at $84,000 after buying an additional 68 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Assurant by 19.8% in the first quarter. Assetmark Inc. now owns 435 shares of the financial services provider’s stock valued at $95,000 after buying an additional 72 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIZ has been the topic of a number of research reports. Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Piper Sandler upped their price target on shares of Assurant from $329.00 to $356.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial increased their price target on Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Zacks Research raised Assurant from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Weiss Ratings raised Assurant from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $341.86.

Assurant Stock Performance

NYSE:AIZ opened at $321.49 on Friday. The stock’s 50-day moving average is $283.45 and its 200-day moving average is $257.97. Assurant, Inc. has a 1-year low of $209.86 and a 1-year high of $326.20. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.37. The stock has a market cap of $15.78 billion, a P/E ratio of 13.41 and a beta of 0.52.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $1.40. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the business earned $5.73 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Assurant, Inc. will post 23.68 earnings per share for the current year.

Assurant Profile

Assurant, Inc. is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle. Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.