Fmr LLC Cuts Stock Position in Assurant, Inc. (NYSE:AIZ)

FMR LLC lessened its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,101,573 shares of the financial services provider's stock after selling 62,020 shares during the period. FMR LLC owned 2.15% of Assurant worth $234,878,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AIZ. PNC Financial Services Group Inc. boosted its holdings in shares of Assurant by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock valued at $1,657,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. increased its stake in shares of Assurant by 28.6% during the fourth quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock valued at $168,000 after buying an additional 188 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock valued at $34,079,000 after acquiring an additional 24,887 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in Assurant during the 4th quarter valued at about $329,000. Finally, Merit Financial Group LLC bought a new stake in shares of Assurant in the 4th quarter valued at about $254,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Performance

Shares of NYSE AIZ traded down $0.43 during mid-day trading on Thursday, hitting $189.90. The stock had a trading volume of 77,068 shares, compared to its average volume of 380,629. The company has a 50 day moving average of $203.12 and a two-hundred day moving average of $206.95. 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 firm has a market cap of $9.66 billion, a PE ratio of 13.17 and a beta of 0.53. 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 posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AIZ has been the subject of a number of recent research reports. 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. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.17.

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.