Balyasny Asset Management L.P. Takes $13.07 Million Position in Assurant, Inc. (NYSE:AIZ)

Balyasny Asset Management L.P. acquired a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 61,300 shares of the financial services provider's stock, valued at approximately $13,070,000. Balyasny Asset Management L.P. owned approximately 0.12% of Assurant as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Assurant during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares in the last quarter. TD Private Client Wealth LLC raised its position in Assurant by 503.1% in the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 161 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Stock Up 0.2 %

Shares of AIZ traded up $0.47 during trading hours on Friday, hitting $195.34. The stock had a trading volume of 329,317 shares, compared to its average volume of 386,652. The firm has a 50 day simple moving average of $198.62 and a 200-day simple moving average of $206.80. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $9.94 billion, a P/E ratio of 13.50 and a beta of 0.59.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.06 billion. During the same period last year, the business earned $4.78 EPS. Assurant's quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 16.88 EPS 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 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective on the stock in a research note on Thursday, April 10th. StockNews.com raised Assurant from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Assurant presently has an average rating of "Moderate Buy" and an average target price of $234.17.

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.