ProShare Advisors LLC Has $3.79 Million Stake in Assurant, Inc. (NYSE:AIZ)

ProShare Advisors LLC increased its position in Assurant, Inc. (NYSE:AIZ) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,785 shares of the financial services provider’s stock after purchasing an additional 329 shares during the period. ProShare Advisors LLC’s holdings in Assurant were worth $3,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIZ. Bank of New York Mellon Corp boosted its stake in Assurant by 36.7% in 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 purchasing an additional 891,292 shares during the period. Norges Bank purchased a new stake in Assurant in the 4th quarter worth about $143,475,000. Millennium Management LLC lifted its stake in Assurant by 1,499.1% in the 4th quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider’s stock worth $73,375,000 after acquiring an additional 322,608 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Assurant in the 4th quarter worth about $34,365,000. Finally, Northern Trust Corp lifted its stake in Assurant by 23.1% in the 4th quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider’s stock worth $177,370,000 after acquiring an additional 156,364 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 0.5%

AIZ opened at $203.26 on Tuesday. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The business has a 50-day moving average of $198.30 and a 200-day moving average of $207.22. 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 company has a market capitalization of $10.34 billion, a PE ratio of 14.05 and a beta of 0.59.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on AIZ shares. Morgan Stanley increased their price objective on Assurant from $200.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Truist Financial upped their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.67.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the sale, the executive vice president now directly owns 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now 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 disclosure for this sale can be found here. 0.51% of the stock is currently 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.