Assurant, Inc. (NYSE:AIZ) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in Assurant, Inc. (NYSE:AIZ) by 37.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,841 shares of the financial services provider’s stock after purchasing an additional 15,377 shares during the quarter. Ameriprise Financial Inc. owned 0.11% of Assurant worth $12,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of 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 during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Assurant by 503.1% during the 4th 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 period. Finally, Richardson Financial Services Inc. increased its stake in Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 86 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Truist Financial increased their price target 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. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price objective for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Assurant has an average rating of “Moderate Buy” and an average target price of $234.17.

Assurant Stock Up 1.2%

Assurant stock opened at $201.97 on Monday. The stock has a market capitalization of $10.27 billion, a PE ratio of 13.96 and a beta of 0.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a 50 day moving average of $198.26 and a 200-day moving average of $207.14.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $4.78 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.

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.