Balyasny Asset Management L.P. Invests $13.07 Million in Assurant, Inc. (NYSE:AIZ)

Balyasny Asset Management L.P. acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 61,300 shares of the financial services provider’s stock, valued at approximately $13,070,000. Balyasny Asset Management L.P. owned approximately 0.12% of Assurant at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Assurant by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider’s stock worth $1,657,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Assurant by 28.6% during the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 188 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Assurant in the 4th quarter valued at about $329,000. Merit Financial Group LLC acquired a new stake in shares of Assurant during the fourth quarter worth $254,000. Finally, Hennessy Advisors Inc. raised its position in shares of Assurant by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 54,000 shares of the financial services provider’s stock valued at $11,514,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 1.2 %

AIZ opened at $194.63 on Friday. 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 stock has a market cap of $9.90 billion, a price-to-earnings ratio of 13.45 and a beta of 0.59. The company’s 50-day moving average price is $198.84 and its two-hundred day moving average price is $206.70. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $4.78 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 17,708 shares in the company, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and an average price target of $234.17.

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.