Crestline Management LP Buys New Position in Assurant, Inc. (NYSE:AIZ)

Crestline Management LP bought a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,084 shares of the financial services provider's stock, valued at approximately $1,510,000.

Several other large investors have also recently modified their holdings of AIZ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC boosted its holdings in 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 during the period. Jones Financial Companies Lllp boosted its holdings in Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 103 shares during the period. TD Private Client Wealth LLC boosted its holdings in Assurant by 503.1% during the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 161 shares during the period. Finally, Richardson Financial Services Inc. boosted its holdings in Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 86 shares during the period. Institutional investors own 92.65% of the company's stock.

Assurant Stock Up 0.2%

Shares of AIZ stock traded up $0.47 during mid-day trading on Friday, hitting $195.34. The stock had a trading volume of 329,317 shares, compared to its average volume of 386,652. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The firm has a market capitalization of $9.94 billion, a P/E ratio of 13.50 and a beta of 0.59. The firm's 50-day moving average is $198.62 and its two-hundred day moving average is $206.88. 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 (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping 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 business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the prior year, the business earned $4.78 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction on 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 $3,568,162. This represents a 14.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.51% of the stock is currently owned by company insiders.

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.