Assurant, Inc. (NYSE:AIZ) Position Trimmed by Asset Management Group Inc.

Asset Management Group Inc. cut its holdings in Assurant, Inc. (NYSE:AIZ) by 10.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,299 shares of the financial services provider’s stock after selling 367 shares during the period. Asset Management Group Inc.’s holdings in Assurant were worth $703,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its stake in Assurant by 48.4% during the 3rd 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. World Investment Advisors LLC acquired a new position in Assurant during the 3rd quarter valued at about $1,214,000. Wilmington Savings Fund Society FSB bought a new position in Assurant in the 3rd quarter worth about $244,000. Principal Financial Group Inc. increased its stake in shares of Assurant by 6.4% in the third quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider’s stock valued at $14,370,000 after purchasing an additional 4,317 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock valued at $34,079,000 after purchasing an additional 24,887 shares during the period. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

NYSE:AIZ opened at $197.00 on Friday. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $199.82 and its 200 day moving average price is $206.71. The firm has a market cap of $10.02 billion, a P/E ratio of 13.61 and a beta of 0.53.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.51% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price objective on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price for the company in a research report on Thursday, April 10th. Finally, StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.17.

Assurant Company 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.