Assurant, Inc. (NYSE:AIZ) Shares Acquired by Strategic Global Advisors LLC

Strategic Global Advisors LLC lifted its position in shares of Assurant, Inc. (NYSE:AIZ) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,332 shares of the financial services provider’s stock after buying an additional 718 shares during the period. Strategic Global Advisors LLC’s holdings in Assurant were worth $3,696,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after purchasing an additional 62,696 shares during the period. Principal Financial Group Inc. increased its stake in Assurant by 6.4% in the third quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider’s stock valued at $14,370,000 after purchasing an additional 4,317 shares during the last quarter. Park Avenue Securities LLC lifted its position in Assurant by 27.8% during the fourth quarter. Park Avenue Securities LLC now owns 6,492 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 1,411 shares during the period. Ritholtz Wealth Management lifted its position in Assurant by 60.0% during the fourth quarter. Ritholtz Wealth Management now owns 4,049 shares of the financial services provider’s stock worth $863,000 after buying an additional 1,518 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Assurant in the 4th quarter worth about $254,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Truist Financial boosted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target on the stock in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.17.

Insider Activity

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 directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company’s stock.

Assurant Stock Up 1.2%

Shares of NYSE AIZ opened at $201.97 on Friday. The stock has a fifty day moving average price of $198.26 and a 200 day moving average price of $207.03. The company has a market cap of $10.27 billion, a P/E ratio of 13.96 and a beta of 0.59. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating the consensus estimate of $2.78 by $0.61. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $4.78 EPS. Research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

About Assurant

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.