Quarry LP Purchases New Shares in Assurant, Inc. (NYSE:AIZ)

Quarry LP purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 528 shares of the financial services provider’s stock, valued at approximately $113,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position 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 buying an additional 891,292 shares during the last quarter. Geode Capital Management LLC raised its position in Assurant by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider’s stock worth $299,724,000 after buying an additional 10,956 shares during the last quarter. Norges Bank purchased a new position in Assurant during the 4th quarter worth $143,475,000. Amundi raised its position 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 buying an additional 87,323 shares during the last quarter. Finally, FIL Ltd raised its position in Assurant by 42.4% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were 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 $3,568,162. This trade represents a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective for the company in a research report on Thursday, April 10th. Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, 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 report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.

Assurant Price Performance

Shares of NYSE AIZ opened at $194.15 on Wednesday. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 13.42 and a beta of 0.53. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company’s 50-day moving average price is $200.38 and its 200 day moving average price is $206.80. 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 issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 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%. As a group, research analysts forecast that Assurant, Inc. will post 16.88 earnings per share 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.