Gotham Asset Management LLC Buys 1,775 Shares of Assurant, Inc. (NYSE:AIZ)

Gotham Asset Management LLC grew its stake in shares of Assurant, Inc. (NYSE:AIZ) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,643 shares of the financial services provider’s stock after purchasing an additional 1,775 shares during the period. Gotham Asset Management LLC owned approximately 0.10% of Assurant worth $10,585,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AIZ. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $708,016,000 after purchasing an additional 891,292 shares in the last quarter. Norges Bank bought a new stake in shares of Assurant during the fourth quarter valued at approximately $143,475,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Assurant in the fourth quarter worth $34,365,000. Northern Trust Corp grew its stake in Assurant by 23.1% in the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider’s stock worth $177,370,000 after purchasing an additional 156,364 shares during the period. Finally, Deutsche Bank AG grew its stake in Assurant by 25.9% in the fourth quarter. Deutsche Bank AG now owns 550,782 shares of the financial services provider’s stock worth $117,438,000 after purchasing an additional 113,247 shares during the period. Institutional investors own 92.65% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction 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 owns 17,708 shares in the company, valued at $3,568,162. This trade represents a 14.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.

Assurant Trading Up 0.2%

Shares of AIZ stock opened at $195.34 on Monday. 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. The firm’s 50 day moving average is $198.62 and its 200 day moving average is $206.88. The stock has a market capitalization of $9.94 billion, a P/E ratio of 13.50 and a beta of 0.59.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AIZ shares. Piper Sandler raised 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. Keefe, Bruyette & Woods cut their target price on Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Truist Financial increased their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Assurant has an average rating of “Moderate Buy” and a consensus price target of $234.17.

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.