Versor Investments LP Purchases 2,423 Shares of Assurant, Inc. $AIZ

Versor Investments LP raised its position in Assurant, Inc. (NYSE:AIZ) by 153.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,000 shares of the financial services provider’s stock after buying an additional 2,423 shares during the period. Versor Investments LP’s holdings in Assurant were worth $963,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AIZ. Versant Capital Management Inc boosted its position in Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after buying an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Assurant in the 2nd quarter valued at $27,000. Montag A & Associates Inc. bought a new position in Assurant in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC boosted its position in Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares during the last quarter. Finally, BOKF NA bought a new position in Assurant in the 3rd quarter valued at $32,000. 92.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. This trade represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the sale, the chief accounting officer owned 4,741 shares of the company’s stock, valued at $1,000,256.18. This trade represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,650 shares of company stock valued at $558,331 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AIZ has been the topic of a number of analyst reports. Truist Financial increased their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Morgan Stanley cut their price target on Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded Assurant from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, Piper Sandler increased their price target on Assurant from $264.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.00.

Assurant Stock Performance

Shares of Assurant stock opened at $243.47 on Wednesday. The company has a market capitalization of $12.10 billion, a PE ratio of 12.45 and a beta of 0.56. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $247.42. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $224.45 and its 200 day simple moving average is $227.52.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the business posted $5.79 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts predict that Assurant, Inc. will post 20.87 EPS for the current year.

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.