Investment Management Corp of Ontario Sells 200 Shares of Assurant, Inc. (NYSE:AIZ)

Investment Management Corp of Ontario reduced its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,474 shares of the financial services provider’s stock after selling 200 shares during the quarter. Investment Management Corp of Ontario’s holdings in Assurant were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Assurant during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Assurant by 503.1% during the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 161 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 86 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIZ. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods dropped their price objective on Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.17.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. The trade was a 14.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is owned by insiders.

Assurant Price Performance

Shares of NYSE AIZ opened at $202.52 on Wednesday. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The business has a fifty day moving average price of $198.60 and a two-hundred day moving average price of $206.93. 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 market capitalization of $10.30 billion, a PE ratio of 14.00 and a beta of 0.59.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the firm earned $4.78 EPS. Assurant’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts predict 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.