Xponance Inc. Has $1.13 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Xponance Inc. cut its holdings in Assurant, Inc. (NYSE:AIZ) by 18.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,699 shares of the financial services provider’s stock after selling 1,547 shares during the quarter. Xponance Inc.’s holdings in Assurant were worth $1,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Assurant by 21.5% in the third quarter. Bank of New York Mellon Corp now owns 3,238,477 shares of the financial services provider’s stock worth $464,981,000 after buying an additional 573,309 shares during the last quarter. FMR LLC lifted its stake in shares of Assurant by 7.5% in the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after buying an additional 191,750 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Assurant by 75.1% in the third quarter. Federated Hermes Inc. now owns 376,975 shares of the financial services provider’s stock worth $54,126,000 after buying an additional 161,671 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Assurant by 279.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock worth $30,271,000 after buying an additional 132,275 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Assurant by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock worth $267,848,000 after buying an additional 109,123 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AIZ. UBS Group boosted their price objective on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods cut shares of Assurant from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $170.00 to $182.00 in a research note on Monday, February 12th. Finally, Piper Sandler boosted their target price on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.20.

Assurant Trading Up 0.4 %

Shares of AIZ stock opened at $177.05 on Thursday. Assurant, Inc. has a 1 year low of $115.77 and a 1 year high of $189.48. The firm’s fifty day simple moving average is $178.82 and its 200 day simple moving average is $168.75. The firm has a market capitalization of $9.20 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.88. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.78 billion. Assurant had a net margin of 5.77% and a return on equity of 18.36%. As a group, sell-side analysts predict that Assurant, Inc. will post 15.67 EPS for the current year.

Assurant Company 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.