Federated Hermes Inc. Sells 45,347 Shares of Assurant, Inc. (NYSE:AIZ)

Federated Hermes Inc. trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 331,628 shares of the financial services provider’s stock after selling 45,347 shares during the quarter. Federated Hermes Inc. owned 0.63% of Assurant worth $55,876,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Assurant in the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd boosted its stake in Assurant by 104.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock valued at $26,000 after buying an additional 91 shares during the period. Parkside Financial Bank & Trust grew its position in Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after buying an additional 138 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in Assurant during the second quarter worth about $32,000. Finally, State of Wyoming bought a new position in Assurant in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AIZ shares. Piper Sandler lifted their price target on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group lifted their target price on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods lowered shares of Assurant from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $170.00 to $182.00 in a report on Monday, February 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.20.

Assurant Stock Up 1.7 %

Shares of AIZ opened at $173.83 on Friday. Assurant, Inc. has a 1 year low of $115.43 and a 1 year high of $189.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a 50 day simple moving average of $178.56 and a two-hundred day simple moving average of $167.93. The firm has a market cap of $9.04 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.15 and a beta of 0.50.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.88. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.78 billion. Assurant had a net margin of 5.77% and a return on equity of 18.36%. On average, analysts forecast that Assurant, Inc. will post 15.67 earnings per share for the current fiscal year.

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.