Siemens Fonds Invest GmbH Invests $1.14 Million in Assurant, Inc. (NYSE:AIZ)

Siemens Fonds Invest GmbH bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,328 shares of the financial services provider's stock, valued at approximately $1,136,000.

Several other hedge funds have also recently bought and sold shares of AIZ. Bank of New York Mellon Corp boosted its holdings in shares of Assurant by 36.7% in the fourth 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 period. Geode Capital Management LLC lifted its position in Assurant by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock valued at $299,724,000 after acquiring an additional 10,956 shares in the last quarter. Northern Trust Corp boosted its stake in Assurant by 23.1% in the 4th quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares during the period. Norges Bank bought a new position in Assurant during the 4th quarter worth about $143,475,000. Finally, Clark Capital Management Group Inc. increased its holdings in Assurant by 1.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 607,458 shares of the financial services provider's stock worth $129,522,000 after purchasing an additional 7,211 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares of the company's stock, 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 at this link. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a report on Monday. StockNews.com upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price target on Assurant from $200.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective on the stock in a report on Thursday, April 10th. Finally, Truist Financial boosted their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Assurant currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.67.

Assurant Stock Down 4.0%

NYSE AIZ traded down $7.94 during trading hours on Wednesday, hitting $192.71. 822,093 shares of the company traded hands, compared to its average volume of 395,020. 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 business's 50-day moving average is $198.23 and its 200-day moving average is $207.17. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 13.32 and a beta of 0.59. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $4.78 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 earnings per share 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.