BI Asset Management Fondsmaeglerselskab A S Grows Stock Holdings in Assurant, Inc. (NYSE:AIZ)

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Assurant, Inc. (NYSE:AIZ) by 273.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,137 shares of the financial services provider’s stock after acquiring an additional 3,028 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Assurant were worth $882,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Assurant by 36.7% during the 4th 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 acquiring an additional 891,292 shares during the period. Geode Capital Management LLC increased its holdings in shares of Assurant by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider’s stock worth $299,724,000 after purchasing an additional 10,956 shares during the period. Norges Bank purchased a new stake in shares of Assurant in the fourth quarter worth $143,475,000. Amundi boosted its stake in Assurant by 45.0% during the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock valued at $57,764,000 after buying an additional 87,323 shares during the period. Finally, FIL Ltd grew its position in Assurant by 42.4% during the fourth quarter. FIL Ltd now owns 213,550 shares of the financial services provider’s stock worth $45,533,000 after buying an additional 63,550 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Activity

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant Stock Up 1.3 %

Shares of AIZ opened at $191.43 on Thursday. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. 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 stock has a 50 day simple moving average of $201.08 and a two-hundred day simple moving average of $206.60. The firm has a market cap of $9.74 billion, a P/E ratio of 13.23 and a beta of 0.53.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

AIZ has been the topic of several recent analyst reports. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods cut their price target 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. Finally, Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.17.

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.