Shay Capital LLC Lowers Stock Position in Assurant, Inc. (NYSE:AIZ)

Shay Capital LLC reduced its position in Assurant, Inc. (NYSE:AIZ) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,750 shares of the financial services provider’s stock after selling 250 shares during the quarter. Shay Capital LLC’s holdings in Assurant were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC lifted its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after buying an additional 103 shares during the period. TD Private Client Wealth LLC grew its stake in Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after buying an additional 161 shares during the period. Finally, Richardson Financial Services Inc. increased its position in shares of Assurant by 42.8% in the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Up 1.6%

NYSE:AIZ opened at $199.44 on Friday. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 13.78 and a beta of 0.59. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50-day simple moving average is $198.31 and its 200 day simple moving average is $206.89.

Assurant (NYSE:AIZ) last posted its quarterly earnings data 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. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $4.78 EPS. Assurant’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AIZ. Keefe, Bruyette & Woods decreased their price target on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price for the company in a research note on Thursday, April 10th. Truist Financial boosted their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated 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 directly owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.51% of the company’s stock.

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.