Victory Capital Management Inc. Sells 7,445 Shares of Assurant, Inc. (NYSE:AIZ)

Victory Capital Management Inc. lessened its stake in Assurant, Inc. (NYSE:AIZ) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,154 shares of the financial services provider’s stock after selling 7,445 shares during the period. Victory Capital Management Inc. owned 0.24% of Assurant worth $24,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AIZ. AQR Capital Management LLC grew its position in shares of Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after buying an additional 255,471 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Assurant in the third quarter worth $284,730,000. TD Asset Management Inc increased its position in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after purchasing an additional 96,021 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Assurant by 751.0% during the third quarter. SG Americas Securities LLC now owns 60,674 shares of the financial services provider’s stock worth $12,066,000 after purchasing an additional 53,544 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Assurant during the 2nd quarter valued at $7,465,000. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

Shares of NYSE AIZ opened at $218.82 on Monday. Assurant, Inc. has a 52 week low of $159.32 and a 52 week high of $219.05. The business’s 50 day moving average price is $197.03 and its 200 day moving average price is $182.78. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.22 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.18 and a beta of 0.57.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm earned $4.29 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AIZ shares. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. UBS Group upped their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Bank of America increased their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.20.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

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.