Adage Capital Partners GP L.L.C. Purchases 23,100 Shares of Assurant, Inc. (NYSE:AIZ)

Adage Capital Partners GP L.L.C. increased its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 122.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,940 shares of the financial services provider's stock after purchasing an additional 23,100 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Assurant worth $8,942,000 as of its most recent SEC filing.

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

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AIZ. Truist Financial boosted their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 13th. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.17.

Assurant Stock Performance

Shares of AIZ stock traded up $5.37 on Friday, hitting $197.00. 307,108 shares of the stock traded hands, compared to its average volume of 384,316. The company has a market capitalization of $10.02 billion, a PE ratio of 13.61 and a beta of 0.53. The company's fifty day moving average is $200.02 and its 200 day moving average is $206.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal 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.