Systematic Financial Management LP Has $3.26 Million Position in Assurant, Inc. (NYSE:AIZ)

Systematic Financial Management LP lessened its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,266 shares of the financial services provider’s stock after selling 75 shares during the quarter. Systematic Financial Management LP’s holdings in Assurant were worth $3,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIZ. Barclays PLC increased its stake in Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock valued at $38,243,000 after purchasing an additional 62,696 shares in the last quarter. Principal Financial Group Inc. increased its stake in Assurant by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider’s stock valued at $14,370,000 after purchasing an additional 4,317 shares in the last quarter. Park Avenue Securities LLC increased its stake in Assurant by 27.8% during the 4th quarter. Park Avenue Securities LLC now owns 6,492 shares of the financial services provider’s stock valued at $1,384,000 after purchasing an additional 1,411 shares in the last quarter. Ritholtz Wealth Management increased its stake in Assurant by 60.0% during the 4th quarter. Ritholtz Wealth Management now owns 4,049 shares of the financial services provider’s stock valued at $863,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Assurant during the 4th quarter valued at $254,000. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of AIZ stock opened at $201.97 on Friday. The firm has a 50-day moving average of $198.26 and a 200-day moving average of $207.03. The company has a market cap of $10.27 billion, a P/E ratio of 13.96 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55.

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

Wall Street Analyst Weigh In

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

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the 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 completion of the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by company insiders.

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.