Aigen Investment Management LP Buys New Position in Assurant, Inc. (NYSE:AIZ)

Aigen Investment Management LP purchased a new position in Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, HoldingsChannel reports. The firm purchased 1,313 shares of the financial services provider’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. US Bancorp DE lifted its stake in Assurant by 7.2% during the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 56 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in Assurant by 4.2% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after buying an additional 59 shares during the period. Richardson Financial Services Inc. lifted its stake in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Assurant by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 78 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Assurant by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 79 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Performance

Shares of AIZ opened at $218.82 on Friday. The company has a market capitalization of $11.22 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. Assurant, Inc. has a one year low of $159.32 and a one year high of $219.05. The company’s fifty day moving average price is $196.51 and its 200 day moving average price is $182.41.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.29 EPS. As a group, analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIZ. Bank of America increased their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler boosted their price target on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial boosted their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Assurant has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Buying and Selling at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The trade was a 14.86 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% 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.