Crestline Management LP Invests $1.51 Million in Assurant, Inc. (NYSE:AIZ)

Crestline Management LP acquired a new stake in Assurant, Inc. (NYSE:AIZ) during the 4th quarter, Holdings Channel.com reports. The firm acquired 7,084 shares of the financial services provider’s stock, valued at approximately $1,510,000.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Assurant during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 103 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Assurant by 503.1% during the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after buying an additional 161 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the subject of several research reports. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a research note on Thursday, April 10th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Truist Financial upped their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and a consensus target price of $234.17.

Assurant Stock Down 1.2 %

Assurant stock opened at $194.63 on Friday. The stock has a market cap of $9.90 billion, a PE ratio of 13.45 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s fifty day moving average is $198.84 and its two-hundred day moving average is $206.70. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.61. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.06 billion. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $4.78 EPS. On average, sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Biju Nair sold 3,000 shares of Assurant 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 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 Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is owned by corporate insiders.

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.