Clark Capital Management Group Inc. Buys 7,211 Shares of Assurant, Inc. (NYSE:AIZ)

Clark Capital Management Group Inc. grew its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607,458 shares of the financial services provider's stock after purchasing an additional 7,211 shares during the period. Assurant comprises about 0.9% of Clark Capital Management Group Inc.'s holdings, making the stock its 22nd largest position. Clark Capital Management Group Inc. owned approximately 1.18% of Assurant worth $129,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG increased its holdings in Assurant by 25.9% in the fourth quarter. Deutsche Bank AG now owns 550,782 shares of the financial services provider's stock worth $117,438,000 after buying an additional 113,247 shares during the last quarter. Dean Capital Management increased its stake in shares of Assurant by 1.7% during the 4th quarter. Dean Capital Management now owns 10,054 shares of the financial services provider's stock worth $2,144,000 after purchasing an additional 172 shares during the last quarter. Crestline Management LP bought a new position in shares of Assurant during the 4th quarter valued at $1,510,000. Cetera Investment Advisers lifted its stake in shares of Assurant by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 18,583 shares of the financial services provider's stock valued at $3,962,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in Assurant in the fourth quarter worth $385,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of analyst reports. Piper Sandler raised Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target for the company in a research report on Thursday, April 10th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. StockNews.com upgraded Assurant from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods reduced 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $234.17.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is owned by company insiders.

Assurant Stock Performance

Shares of AIZ stock traded up $0.47 during trading hours on Friday, reaching $195.34. 329,317 shares of the company's stock were exchanged, compared to its average volume of 386,652. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $9.94 billion, a P/E ratio of 13.50 and a beta of 0.59. The business has a fifty day moving average price of $198.62 and a 200-day moving average price of $206.80.

Assurant (NYSE:AIZ - Get Free Report) last released its earnings results 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. The firm had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.06 billion. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.78 EPS. Analysts predict that Assurant, Inc. will post 16.88 EPS 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.