Assurant, Inc. $AIZ Stock Position Lowered by UBS Group AG

UBS Group AG lessened its position in Assurant, Inc. (NYSE:AIZ) by 28.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,270 shares of the financial services provider’s stock after selling 46,434 shares during the period. UBS Group AG’s holdings in Assurant were worth $28,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIZ. Versant Capital Management Inc raised its stake in shares of Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the 2nd quarter worth $27,000. Smartleaf Asset Management LLC raised its stake in shares of Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares in the last quarter. BOKF NA bought a new stake in shares of Assurant in the 3rd quarter worth $32,000. Finally, Root Financial Partners LLC bought a new stake in shares of Assurant in the 3rd quarter worth $34,000. Institutional investors own 92.65% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of Assurant stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the transaction, the chief accounting officer owned 4,741 shares in the company, valued at $1,000,256.18. This represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,650 shares of company stock worth $558,331 over the last 90 days. Insiders own 0.54% of the company’s stock.

Assurant Stock Performance

Shares of NYSE AIZ opened at $239.31 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.24 and a beta of 0.56. The stock’s fifty day simple moving average is $223.58 and its 200 day simple moving average is $226.84. Assurant, Inc. has a 52-week low of $183.39 and a 52-week high of $246.31.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.79 EPS. As a group, sell-side analysts forecast that Assurant, Inc. will post 20.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings raised Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, April 27th. Truist Financial boosted their price objective on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets dropped their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Morgan Stanley decreased their target price on Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $258.50.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.