XTX Topco Ltd Sells 7,552 Shares of Assurant, Inc. (NYSE:AIZ)

XTX Topco Ltd cut its stake in Assurant, Inc. (NYSE:AIZ) by 72.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the financial services provider’s stock after selling 7,552 shares during the quarter. XTX Topco Ltd’s holdings in Assurant were worth $606,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of 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 worth $708,016,000 after purchasing an additional 891,292 shares in the last quarter. Norges Bank acquired a new position in shares of Assurant in the fourth quarter valued at approximately $143,475,000. Amundi increased its holdings in Assurant by 45.0% during the 4th 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 in the last quarter. FIL Ltd raised its stake in shares of Assurant by 42.4% in the 4th quarter. FIL Ltd now owns 213,550 shares of the financial services provider’s stock valued at $45,533,000 after purchasing an additional 63,550 shares during the period. Finally, Barclays PLC boosted its position in shares of Assurant by 48.4% during the third 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 period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AIZ shares. Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods reduced their price target on Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $234.17.

Assurant Stock Performance

AIZ opened at $189.01 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 $9.61 billion, a price-to-earnings ratio of 13.06 and a beta of 0.53. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The business has a 50 day moving average of $202.17 and a 200-day moving average of $206.81.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

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.