iSAM Funds UK Ltd Makes New Investment in Assurant, Inc. (NYSE:AIZ)

iSAM Funds UK Ltd purchased a new position in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,896 shares of the financial services provider’s stock, valued at approximately $617,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIZ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its stake in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Jones Financial Companies Lllp increased its position 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 in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of 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 purchasing an additional 161 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in shares of Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction on Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president now owns 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Assurant Trading Up 0.5%

Shares of AIZ opened at $203.26 on Tuesday. The company has a market capitalization of $10.34 billion, a P/E ratio of 14.05 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 stock has a 50-day moving average price of $198.30 and a 200 day moving average price of $207.22.

Assurant (NYSE:AIZ) last released its quarterly earnings data 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. 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 analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $4.78 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AIZ shares. Morgan Stanley upped their target price on Assurant from $200.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target on the stock in a research report on Thursday, April 10th. Finally, Truist Financial lifted their price target on 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. According to data from MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and an average target price of $228.67.

About Assurant

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.