Deutsche Bank AG Acquires 113,247 Shares of Assurant, Inc. (NYSE:AIZ)

Deutsche Bank AG increased its stake in Assurant, Inc. (NYSE:AIZ) by 25.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 550,782 shares of the financial services provider’s stock after purchasing an additional 113,247 shares during the period. Deutsche Bank AG owned approximately 1.07% of Assurant worth $117,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Assurant by 36.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock valued at $708,016,000 after acquiring an additional 891,292 shares during the last quarter. Norges Bank purchased a new stake in shares of Assurant in the 4th quarter valued at $143,475,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Assurant during the 4th quarter valued at $34,365,000. Northern Trust Corp raised its position in Assurant by 23.1% in the 4th quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider’s stock worth $177,370,000 after purchasing an additional 156,364 shares during the period. Finally, Amundi lifted its stake in Assurant by 45.0% in the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock worth $57,764,000 after purchasing an additional 87,323 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped 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. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target for the company in a research report on Thursday, April 10th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial increased their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average target price of $234.17.

Assurant Trading Up 0.2 %

Shares of AIZ stock opened at $195.34 on Friday. 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 company has a market cap of $9.94 billion, a price-to-earnings ratio of 13.50 and a beta of 0.59. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a fifty day moving average price of $198.62 and a 200-day moving average price of $206.80.

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

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction 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 completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

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.