Integrated Wealth Concepts LLC Acquires New Stake in Assurant, Inc. (NYSE:AIZ)

Integrated Wealth Concepts LLC bought a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,701 shares of the financial services provider's stock, valued at approximately $789,000.

A number of other large investors have also added to or reduced their stakes in AIZ. Bank of New York Mellon Corp boosted its position in Assurant by 36.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock valued at $708,016,000 after buying an additional 891,292 shares during the last quarter. Norges Bank acquired a new position in shares of Assurant in the fourth quarter worth about $143,475,000. Fuller & Thaler Asset Management Inc. purchased a new position in Assurant in the fourth quarter valued at about $34,365,000. Amundi grew its stake in Assurant by 45.0% during the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock valued at $57,764,000 after purchasing an additional 87,323 shares in the last quarter. Finally, FIL Ltd grew its stake in Assurant by 42.4% during the 4th quarter. FIL Ltd now owns 213,550 shares of the financial services provider's stock valued at $45,533,000 after purchasing an additional 63,550 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reduced their price target on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a report on Thursday, April 10th. Finally, StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

Assurant Stock Performance

NYSE AIZ traded down $0.73 during trading hours on Monday, reaching $196.29. The company's stock had a trading volume of 315,993 shares, compared to its average volume of 384,914. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $199.82 and a 200 day simple moving average of $206.84. The stock has a market cap of $9.98 billion, a PE ratio of 13.57 and a beta of 0.53. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is currently owned by company insiders.

Assurant 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.