4,035 Shares in Assurant, Inc. (NYSE:AIZ) Purchased by US Asset Management LLC

US Asset Management LLC acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,035 shares of the financial services provider’s stock, valued at approximately $680,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Assurant by 7.5% during the 3rd quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after buying an additional 191,750 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Assurant by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock worth $267,848,000 after purchasing an additional 109,123 shares during the period. Wellington Management Group LLP grew its holdings in Assurant by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 638,334 shares of the financial services provider’s stock valued at $91,652,000 after buying an additional 85,953 shares in the last quarter. Northern Trust Corp increased its position in Assurant by 1.6% during the 3rd quarter. Northern Trust Corp now owns 597,419 shares of the financial services provider’s stock worth $85,777,000 after buying an additional 9,167 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Assurant by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,409 shares of the financial services provider’s stock worth $74,710,000 after buying an additional 4,394 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AIZ. Keefe, Bruyette & Woods cut shares of Assurant from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $170.00 to $182.00 in a research note on Monday, February 12th. Piper Sandler increased their target price on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, UBS Group lifted their price objective on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.25.

Assurant Trading Down 2.1 %

AIZ traded down $3.73 during trading on Friday, hitting $175.56. The company’s stock had a trading volume of 131,964 shares, compared to its average volume of 351,989. The firm has a market capitalization of $9.13 billion, a P/E ratio of 14.97, a PEG ratio of 2.23 and a beta of 0.53. Assurant, Inc. has a twelve month low of $118.45 and a twelve month high of $189.48. The stock’s fifty day moving average price is $178.57 and its 200-day moving average price is $170.72. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.88. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.78 billion. Assurant had a net margin of 5.77% and a return on equity of 18.36%. Analysts anticipate that Assurant, Inc. will post 15.67 EPS for the current year.

About Assurant

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.